U.S. Internal Revenue Service building in Washington, D.C. (Photo: Diego M. Radzinschi/THE NATIONAL LAW JOURNAL.)
(Bloomberg) –Taxpayers who miscalculated how much they'll owe the Internal Revenue Service this year won't get hit with penalties — up to a certain point.
The Treasury Department said Wednesday it won't penalize individuals who underpaid their estimated taxes for 2018, as long as they paid 85 percent of what they owe through withholding or estimated quarterly payments.
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