Tax Withholding for Roth Conversions
Hello, I am older than 60 and younger than 72, and have been performing Roth Conversions. My tax returns have included a Failure to Pay Penalty. I am trying to understand what the IRS wants me to do differently to avoid a penalty. I have transferred money from my Traditional 401k to my Roth IRA every year in December, and have made a check out to the IRS and mailed it at the same time in December. Should I be doing something differently? Does the IRS want me to make Quarterly Estimated Payments even though I don't withdraw money until December? Thank you for your guidance.
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