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Financial Planning / Tax Strategies


Subject:  Re: Worried about tax penalties Date:  4/9/1999  8:25 PM
Author:  notatwork Number:  14215 of 130861

You have a "safe harbor" IF, the amount you withheld (2884) this year is equal to the amount of withholding you had last year. Check last year's return for that number.

These penalties may not apply, I do not have quite enough information.

When you do file, pay the tax if you can, but do not send in Form 2210. Let the IRS do that for you. There is some flexibility as to whether they will assess this penalty. Soooo, let them assess it. Generally there is no way to get that penalty abated if you self assess, unless you can show that you computed the original penalty incorrectly.

Good luck.
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