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Visitor I

Turbotax errs on underpayment of estimated tax penalty

Using Turbotax Premium online version, there appears to be an error regarding an underpayment of state withholding  penalty which I believe to be incorrect:   My state tax for 2016 was $2335.  During 2017 I made 4 payments of $590 each totaling $2360.  And yet, Turbotax indicates I need to pay a $198 penalty. Ive had accountants look at this, and they concur no penalty.  Isnt the law that so long as you pay at least 100% of the prior year's tax liability in estimated taxes, there is no penalty  regardless of how much more you earned in the current year?  

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