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Old 01-04-2007, 02:47 PM   #17
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Member#: 369
Join Date: Oct 1999
Chapter/Region: SWIC
Location: Phoenix, AZ
12 CTS-V Wagon
17 GTI


I ***think*** there isn't an underpayment penalty if you paid in more than the previous year's tax liability.

Example: You paid in $5000 in taxes and got a refund of $500 in 2005. As long as you paid in $4500 (your 2005 tax liability) in 2006 there isn't a underpayment penalty.
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AaronB is offline   Reply With Quote