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 Underpayment of Estimated Tax by Individuals Penalty 2023

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the IRS has been much in the news the last couple of weeks one for offering you a deal on taxes you owe and two charging you more money on taxes you owe it completely confused people so I'm going to explain both to you and how they work and also tell you about scamsters among our midst about taxes you may owe the IRS is doing something that is so unusual it has never as best I know ever happened when you don't pay the taxes you owe every month it goes by you owe more penalty for the taxes you haven't paid and the IRS is looking back in the Wayback machine to back during covid and there are a lot of people who didn't pay their taxes and the IRS is actually giving you forgiveness of Interest penalties that you owe late payment penalties in the amount of collectively a billion or so dollar I mean this has never happened that I know of maybe an accountant can say well you forgot what happened in 1957 or whatever no I have no idea if this ever happened there

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