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The IRS will say that you "owe" quarterly, but there's no penalty for not doing so.
by throwaway_exer 10y ago
The IRS will say that you "owe" quarterly, but there's no penalty for not doing so.
- scurvy 10y agoIt's a 3% penalty on the difference between what you owe and what you've paid. It's a pretty minor amount, but there is a penalty. http://www.inman.com/2012/06/08/dont-sweat-quarterly-tax-deadline/ http://www.inman.com/2012/06/08/dont-sweat-quarterly-tax-dea...
- phamilton 10y agoIf the difference is less than $1000 or if you withheld more this year than you owed last year or if you withheld 90% of your total bill, there is no penalty.