I didn't do any quarterly payments, am I looking at a penalty?

Question

Kohari Gonzalez Oneyear & Brown · Accepted Answer

Not making quarterly estimated payments can sometimes lead to an underpayment penalty, but the outcome often depends on the amount of income involved, how much withholding was already in place, and whether the year’s tax balance was reduced enough through other payments. For many taxpayers, the timi For an answer applied to your exact numbers, bring this question to a licensed KGOB CPA in a focused session and leave with a clear next step.