I owe somewhere around 100-130k per year in estimated taxes which I have been paying quarterly for the past 2 years. It's somewhere in the 30k range per payment. I was hoping someone could explain how the penalty is calculated. it's somewhere in the 3-4% range for the year if I don't make any payments at all? I was thinking of investing that money and then just send it in at the end of the year. any thoughts?