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Financial Planning / Tax Strategies
|Subject: Re: Implications/penalties of converting to Roth||Date: 1/4/2013 3:18 PM|
|Author: 0x6a74||Number: 117289 of 121784|
The penalty is essentially daily interest until paid. I don't know the exact interest rates for 2012. They haven't been extremely high. I believe for an individual in the range of 3%.
Delaying federal payment until April would like cost you between 1 and 2% of the underwithheld amount.
fwiw : TurboTax says my penalty is about $70 on $3500 tax
.... I figure it's not worth the trouble to deal with ES at
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