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Our tax system is pay as you go. If you did not make enough of the estimated payments throughout the year, you can have an underpayment penalty. Taxpayers receiving income from 1099s are particularly vulnerable to these penalties.
For more information about underpayment penalties in New York, follow this link: New York Underpayment Penalties
Our tax system is pay as you go. If you did not make enough of the estimated payments throughout the year, you can have an underpayment penalty. Taxpayers receiving income from 1099s are particularly vulnerable to these penalties.
For more information about underpayment penalties in New York, follow this link: New York Underpayment Penalties
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