{"id":1331,"date":"2019-04-11T06:22:53","date_gmt":"2019-04-11T13:22:53","guid":{"rendered":"https:\/\/blog.turbotax.intuit.com\/es\/?p=1331"},"modified":"2019-04-11T06:22:53","modified_gmt":"2019-04-11T13:22:53","slug":"the-turbotax-guide-to-avoiding-estimated-tax-penalties","status":"publish","type":"post","link":"https:\/\/blog.turbotax.intuit.com\/es\/uncategorized\/the-turbotax-guide-to-avoiding-estimated-tax-penalties-1331\/","title":{"rendered":"The TurboTax Guide to Avoiding Estimated Tax Penalties"},"content":{"rendered":"

If you’re self-employed, estimated taxes are a part of your business life. This means you may need to send quarterly estimated taxes<\/a> four times a year (in April, June, September, and January). Your taxes require a different kind of attention than they did when you were a company employee. Self-employed individuals don’t have taxes withheld from every paycheck and United States works on the principle of “pay as you go”, so if you’re self-employed you have to pay taxes yourself.<\/p>\n

If you’ve never understood how quarterly estimated tax payments work, how quarterly estimated tax penalties are calculated or determined, or how to best meet these obligations, here are some tips to help avoid estimated tax penalties.<\/p>\n

Avoiding Underpayment Penalties<\/strong><\/h3>\n

There are ways to avoid a penalty even if you underpay your obligation. The government knows you can’t predict the future with absolute certainty, especially when you’re self-employed, so they give you some leeway.<\/p>\n

Generally, if you owe less than $1,000, you do not have to pay quarterly estimated tax payments and will not see an estimated tax penalty. If you pay at least 90% of your tax obligation or 100% of the tax owed in the prior year (whichever is smaller), then penalty can be avoided. If you are a high-income taxpayer, with an AGI over $150,000, then the 100% is increased to 110%.<\/p>\n

The IRS recently announced they will now waive the penalty for underpayment if you at least paid 80% of your 2018 tax liability, further reducing the relief IRS originally announced on Jan.16.\u00a0 The adjustment was made by the IRS in an effort to help taxpayers who were unable to adjust their withholding and estimated tax payments to reflect changes under the tax reform law<\/a>.<\/p>\n

You may also request a penalty waiver due to one of the following conditions:<\/p>\n