Underpayment Penalty

[1ABC]

I expect to receive a 2024 refund, but have also been assessed a modest penalty.  The penalty stems from me paying far more in estimated taxes for 3Q and 4Q 2024 than for 1Q and 2Q.  This has given the appearance that I am deliberately back-end loading my estimated tax payments.  But since most of my income is not predictable, this is not true.  I cannot know what my income will be until the end of any given Q.  As it turns out in 2024, I realized much less income in 1Q and 2Q than I did in 3Q and 4Q.  Therefore larger estimated tax payments for 3Q and 4Q is a given, expected outcome...and not a deliberate attempt to avoid paying most of my estimated taxes until late in the year.

So should:

I go ahead and file my taxes and request a penalty waiver in Form 2010, while also keeping an appointment with the IRS to discuss the matter in person, if necessary?

Or

Go to the appointment first, discuss the matter with the IRS, and then file my taxes?

[ThomasM125]

You should file the tax return first and prepare the Form 2210 to annualize your income for purposes of calculating the late payment of tax penalty. It would be hard for the IRS to do anything about it until the penalty is assessed. Once the payment is assessed, you can decide if you want to protest it by contacting the IRS.

You prepare Form 2210 in the Other Tax Situations menu in TurboTax, then Additional Tax Payments, then Underpayment Penalties.