• Keeping the Tax Underpayment Penalty at Bay

    Keeping the Tax Underpayment Penalty at Bay

    Keeping the Tax Underpayment Penalty at Bay If you underpay your Federal Tax obligation throughout the year you could be in for a tax penalty when you file next year’s tax return. Outlined here are steps to take to avoid this underpayment penalty. With the 2013 tax year behind you, now is the time to plan appropriately to make sufficient estimated tax payments. An underpayment of estimated tax may apply if you still owe $1,000 or more in additional tax after accounting for withholdings and estimated payments made throughout the year. Remember, to avoid underpayment penalties you are required to

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