I haven't paid any quarterly taxes, will there be a penalty?

Question

Kohari Gonzalez Oneyear & Brown · Accepted Answer

Missing quarterly estimated tax payments can sometimes lead to a penalty, but the result often depends on the amount of tax owed, how much was already withheld from wages or other income, and whether any safe harbor or exception applies. The timing of income during the year can also matter, since es 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.