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1 reply

Cindy4 12
Cindy4 12
May 28, 2025

The underpayment penalty is 7% for underpayments (taxes owed but not fully paid).  The IRS considers the tax system as a 'pay-as-you-go' system, so the payments are calculated by quarter.   To avoid underpaying, you can either adjust W-2 withholdings or pay estimated quarterly taxes here.

Thank you for joining us today @jvgonthier , and if you have a more specific question we're standing by happy to assist!  Please feel free to post again.

 

Hope this helps!

Cindy

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