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cklassley
New Member

I did 2020 taxes with Turbo Tax. IRS is saying I still owe them more money. $37.80, probably more now in penalties. What does Turbo Tax do for customers in this case?

When I did my taxes last year with Turbo Tax, it was the first time I had used them. I was depending on their accuracy, so when I got the bill from IRS a couple of months ago, I wasn't sure whether to pay it or go back to get the answer from Turbo Tax. I'm still not sure!
4 Replies
VolvoGirl
Level 15

I did 2020 taxes with Turbo Tax. IRS is saying I still owe them more money. $37.80, probably more now in penalties. What does Turbo Tax do for customers in this case?

Just $37?   That seems like a small amount.   Did you have a tax due on your return?   When did you pay it?  Maybe it's interest on it or a penalty for owing too much on your return.   The letter should say what it's for.   

Critter-3
Level 15

I did 2020 taxes with Turbo Tax. IRS is saying I still owe them more money. $37.80, probably more now in penalties. What does Turbo Tax do for customers in this case?

Turbotax calculates an ESTIMATED  underpayment penalty based off the info you entered and the filing deadline     but the IRS/State reserve the right to bill you for more penalties and/or interest based on the payment info they have on file  and when the balance due was actually paid. 

Mike9241
Level 15

I did 2020 taxes with Turbo Tax. IRS is saying I still owe them more money. $37.80, probably more now in penalties. What does Turbo Tax do for customers in this case?

what explanation/code is on the notice. we can't see it. there are many reasons why you might owe that Turbotax would have no way of knowing.

 

fanfare
Level 15

I did 2020 taxes with Turbo Tax. IRS is saying I still owe them more money. $37.80, probably more now in penalties. What does Turbo Tax do for customers in this case?

If you are not contesting the IRS finding but you believe TurboTax made an error you must contact TurboTax to file a claim for refund of penalties.

TurboTax hopes you won't read the fine print because you can easily invalidate your claim and end up with nothing from TurboTax.

 

Also , you must show it was a TurboTax error, not your error.

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