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NN15
Level 2

After buying an Electric Vehicle l2 months ago, I quickly changed my W4 Pay withholding to zero so as to claim the EV credit. Will I be penalized for any underpayment? I cant predict my overtime adding or not for the remainder of the year.

 
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2 Replies
NN15
Level 2

After buying an Electric Vehicle l2 months ago, I quickly changed my W4 Pay withholding to zero so as to claim the EV credit. Will I be penalized for any underpayment? I cant predict my overtime adding or not for the remainder of the year.

I meant to say 2 months ago and not 12 months ago.

rjs
Level 15
Level 15

After buying an Electric Vehicle l2 months ago, I quickly changed my W4 Pay withholding to zero so as to claim the EV credit. Will I be penalized for any underpayment? I cant predict my overtime adding or not for the remainder of the year.

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