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Financial Planning / Tax Strategies


Subject:  penalty calc. Date:  4/1/2002  12:32 PM
Author:  cabreck Number:  59956 of 127987

I had to little taken out of my paycheck last year and think I owe a penalty.

I need to pay around $1600 (in pvs. years I received big rebates, so I changed my deductions, unfortunately, too much)

I do my taxes on my own, and I understand you can have the IRS "calc. the penalty for you" . I hear that in some cases you can be charged a penalty and interest. Should I be worried about any interest or putting the calcs. in someone else's hands. I would prefer to just pay the penalty and have it over with.

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