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IRS to waive underpayment penalty for more people

Jan 17, 2019 - The San Francisco Chronicle

The IRS announced Wednesday that it will give more people relief from the underpayment penalty it imposes on taxpayers who didn't pay enough federal income tax in 2018 through payroll withholding, quarterly estimated tax payments or both.

That's a sign that more taxpayers are likely to face a bigger tax bill than expected when they file their 2018 returns because of changes in the federal tax law and payroll-withholding tables.

The IRS said it is "generally waiving the penalty" for a...