MichaelG81
Expert Alumni

Self employed

No underpayment penalty for 2022, because you owe less than 1,000. No need to worry about the form this year, but this year you may want to make estimated payments (there are due dates), because if you owe more than 1000 in tax next year you will get hit with the penalty. 

 

Here is a good link about estimated taxes from IRS and how to pay, and where to send payment, and one about underpayment of estimated taxes.

 

@kt_1989 

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