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You can avoid the penalty by paying the lesser of 90% of the taxes for 2022 or 100% of the taxes for 2021 if your adjusted gross income is less than $150,000.
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If you didn't pay enough taxes in 2022, there's still time to avoid a "surprise tax bill" and additional penalties.
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Can tax Social Security on as little as $2,500 a year in student loans.
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If you're not withholding taxes from your income, you'll need to make the payments four times per year.
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Otherwise, you may be charged an interest of 0.5% of your unpaid balance per month or part month and a penalty of up to 25% for late payments.
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Direct Pay is the easiest way to pay, with online options ahead of the January 17 deadline.
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Next steps