Updated June 14, 2024 Reviewed by Lea D. Uradu Fact checked by Suzanne Kvilhaug Investopedia / Mira Norian What Is an Underpayment Penalty? An underpayment penalty is a fine charged by the Internal Revenue Service (IRS) when taxpayers don’t pay enough of their estimated taxes due during ...
Twitter Google Share on Facebook Thesaurus Financial un·der·pay (ŭn′dər-pā′) tr.v.un·der·paid(-pād′),un·der·pay·ing,un·der·pays To pay insufficiently or less than is deserved. un′der·pay′mentn. American Heritage® Dictionary of the English Language, Fifth Edition...