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New Member
posted Apr 21, 2024 3:44:42 PM

Can I find out what the penalty and interest is? Turbotax was supposed to pay my Federal Taxes from my State refund, but they did not and I received the entire refund?

I paid the Federal amount today when I saw the error, but it should have been paid on 4/15/24. How do I pay the late penalty for paying late?

0 5 22468
5 Replies
Level 15
Apr 21, 2024 3:50:30 PM

The IRS will send you a bill for the penalty and interest, if any.


You misunderstood something. There is no way to pay your federal tax due from your state refund. The federal and state taxes are completely separate.

 

Level 15
Apr 21, 2024 3:50:38 PM

After the IRS receives the tax payment they will send you a bill in the mail for any penalties and interest.

Level 15
Apr 21, 2024 3:56:16 PM

Sorry you misunderstood. You can never have a tax due deducted from a refund.  Federal and state are completely separate.  You will still get the full refund and have to pay the full tax due yourself. Turbo Tax just showed you a screen at the end combining federal and state . But that was only for your own info. Look at the instruction sheets that print out for how you selected to pay a tax due.

New Member
Apr 24, 2024 7:31:57 PM

By the time I get a letter from the IRS, the interest and penalties will be outrages, so I want to pay now. Do you know any secrets as to how I can reach the IRS?  I have called the IRS @ 800-829-1040 in the AM & PM, but I can never get through.  Thank you,

Level 15
Apr 24, 2024 8:55:48 PM

The penalty and interest stop accruing once you have paid the tax. The penalty and interest will be based on the date that you paid the tax. There will be no additional penalty or interest as long as you pay by the date in the letter. So just wait for the bill and don't make yourself crazy over it.