there are two ways penalties for not having enough withheld or paid in on estimated can be computed for the tax year.
one method assumes that your income is earned equally for each tax period. therefore 1/4 of the taxes for the year must be paid each tax period. these payments for 2022 taxes must be paid on or before 4/17,6/15,9/15 and 1/16/2023. this method uses either 90% of current year taxes or 100% (110% if AGI over $150K)of last year taxes whichever is lower.
2nd method income and expenses are determined for the periods ending 3/31,5/31/,8/31 and 12/31
that income is annualized by multiplying by 4, 2.4,1.5 and 1 respectively, taxes are then computed. th e taxes are then deannualized by multiplying by 22.5% 45%, 67.5% and 90%. this method is based on the exception that there are no penalties if 90% of the current year total taxes are paid in as specified. balance is due on or before 4/17/2023. payment due dates are the same
here are the overall rules.
There will be no federal penalties for not paying in enough taxes during the year if withholding and
a) timely estimated tax payments equal or exceed 90% of your 2022 tax or
b) timely estimated tax payments equal or exceed 100% of your 2021 tax (110% if your 2021 adjusted gross income was more than $150K) or
c) the balance due after subtracting taxes withheld from 90% of your 2022 tax is less than $1,000 or
d) your total taxes are less than $1,000
state laws differ
for more info see form 2210 and instructions
https://www.irs.gov/site-index-search?search=2210&field_pup_historical_1=1&field_pup_historical=1
