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    Ways to Avoid IRS Underpayment Penalties

    by Rachel L. Sheedy, Editor, Kiplinger's Retirement Report Mar 22, 2019 3 minutes

    If your tax bill is larger than expected, you may be in for another unpleasant surprise: an underpayment penalty. Taxpayers who owe Uncle Sam $1,000 or more are potentially subject to the penalty. But there are a few ways to avoid this double whammy.

    80% waiver

    For this tax season only, taxpayers who paid in at least 80% of their 2018 tax bill can escape the underpayment penalty, the IRS announced in late March. Normally, taxpayers must pay at least 90%

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