If you received most of your income in quarter 4, you may wish to use the annualized income method to avoid or reduce the underpayment penalty. Have records of when your income was received and payments made throughout the year.
When completing the underpayment penalty section, have your last year's return available.
"Exemptions" can mean different things depending on the context. It may refer to dependents. If you mean "exceptions" to the penalty, you may avoid the Underpayment of Estimated Tax by Individuals Penalty if: Your filed tax return shows you owe less than $1,000 or. You paid at least 90% of the tax shown on the return for the taxable year or 100% of the tax shown on the return for the prior year, whichever amount is less.
See this article for more information on Form 2210 and avoiding the underpayment penalty.