The underpayment penalty is a 7% charge imposed on taxpayers who didn’t pay all of their estimated income taxes or paid estimated taxes late.

Understanding tax payments and the potential repercussions of underpayment is crucial. The tax underpayment penalty is one such charge that taxpayers need to be mindful of. Simply put, this penalty is ...

WASHINGTON - The IRS is reminding taxpayers whose income is not subject to withholding that an estimated tax payment deadline is fast approaching. Monday, June 17 is the payment deadline for second ...

HUNTSVILLE, Ala. (WAFF) - Tax day will be here before we know it, but as of October 1 of last year, the IRS has increased the interest charged on tax underpayments. Financial expert Jay McGowan from ...

The IRS provided another limited waiver of the addition to tax under Sec. 6655 for a corporate taxpayer’s failure to pay estimated income tax with respect to its Sec. 55 corporate alternative minimum ...

This transcript was prepared by a transcription service. This version may not be in its final form and may be updated. J.R. Whalen: Here's Your Money Briefing for Thursday, December 7th. I'm J.R.

In the U.S., federal income taxes are a pay-as-you-go system. This means the IRS requires you to pay estimated taxes throughout the year—either via withholding from paychecks or by making quarterly ...