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hp324
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Did the tax owed amount include underpayment penalty? I thought that it did but I got a bill from IRS for the penalty.

 
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Did the tax owed amount include underpayment penalty? I thought that it did but I got a bill from IRS for the penalty.

That's common for the IRS to send you a bill for more interest.  It's based on when they actually get your tax due payment.  Turbo Tax only can calculate an estimated penalty.

Did the tax owed amount include underpayment penalty? I thought that it did but I got a bill from IRS for the penalty.

Turbotax may offer to calculate a penalty, depending on your situation, but it is very common for the calculation to be off and for the IRS to send a bill anyway. (That's why it's called an estimated penalty.)  If you already did include a penalty, it would be on line 23 of form 1040.  You can call the IRS to make sure the new bill takes into account the estimated penalty you already paid.

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