SaraEA - The IRS has since lowered the amount for the waiver to 80% and it is a bigger deal for several reasons. The 80% applies to the total amount paid by January 15, 2019 so that if the entire amount is paid on that date there is no penalty for missing the prior quarters. Upper income people have to pay the lower of 110% of the prior year [2017] or now 80% of the current year [2018] by January 15. The old rules apply if less than 80% was paid by that date. IRS will also will waive the estimated tax penalty for any qualifying farmer or fisherman who files their 2018 tax return and pays any tax due by April 15, 2019.
