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0 sats \ 1 reply \ @HardRich 8 May \ parent \ on: What Frustrates Americans About The Tax System | Tax Burden of Every U.S. State econ
No kidding. Or, heck, maybe owe 100% and put the rest in something like Bitcoin that historically increases in value at a rate much higher then the underpayment penalty. Though, it'd be bad if it was a bull market.
You know, I can't find a "repeat underpayment penalty", though the IRS does have a "negligence or disregard of the rules or regulations penalty" so I think if you tried to pay 100% on tax day you may end up paying more than Bitcoin appreciates/holds purchasing power during the year. I agree Bitcoin is likely to be a better place to hold that 10% for the year.
There's a statement when you fill out a W-4 that amounts to "I affirm that this should net to roughly zero at tax day" and they'll likely point to that when you try to not pay incremental taxes.