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发帖数: 555 | 1 Hi:
Last year 2015, I got refund from Fed and State tax. That was a normal year.
This year 2016 is different. My company was sold in Sept and it is now a
private company. All my previous company stocks are sold. My gain is huge.
But I do not know how much the gain is since the calculation is complicated.
Do I need to pay additional tax by the end of the year so that there is no
underpayment penalty?
I found online that there are two rules:
(1) 90% of the amount of tax you will pay in total for the year; or
(2) 100% of the amount of tax you paid for the previous year.
So far, the Fed withhold is already more than what I paid for last year.
But my estimation for this year's tax will be at least 3-4 times of last
years' total.
Will I get underpayment penalty if I do not pay extra by the end of year? If
I do pay extra tax by Jan 15, how much do I need to pay?
Thanks |
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