penalties

[bheizer]

Does anyone know if there will be penalties imposed on taxpayer who did not have 100% of 2018 tax liablity paid for 2019?  

I had a client that quit his job and started a business.  He ends up owing tax and since he quit his job in February, he did not have enough tax paid in for 2019 that he was liable for in 2018.

Software is calculating penalty but wondering since Coronavirus, will IRS still impose penalty for this situation since they are waiving penalties for new July 15 deadline?

[TaxGuyBill]

Yes, there should be a penalty.

The extended deadline and modification to penalties apply to 2020, because that is when the Cornavirus started causing problems within the US.

[IRonMaN]

Maybe some gods will forgive all of your sins, but Coronavirus doesn't forgive your sins back to 1962.