Estimated Tax Payments 2024 Safe Harbor Rule. To avoid the underpayment penalty, you must make estimated tax payments by the due dates of each quarter. Not paying enough tax for the year;
If at filing time, you have not paid enough income taxes through withholding or quarterly estimated payments, you may have to pay a penalty for underpayment. Estimated tax is the tax you expect to owe for the current tax year after subtracting: