re: Underpayment penalty on taxes......Paging Poodle...please see last post

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Also, how many children do you have with the addition of the twins? (Congratulations to you and the wife.)

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Thanks......those two are our first.

Now that I've calmed down a bit over it, I think the short term disability is the main culprit in the exhorbinant increase. I thought by going with an accountant that he would catch deductions we were missing out on by using turbotax.....Is there anything else associated with the babies we could possibly write off? We employ a full time (40hrs/week) nanny and pay employment taxes on her as well.

What is the deal with the underpayment penalty?