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New Member
posted Sep 10, 2021 11:56:58 AM

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!

0 4 684
4 Replies
Level 15
Sep 10, 2021 12:01:34 PM

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.   

Level 15
Sep 10, 2021 12:04:35 PM

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. 

Level 15
Sep 10, 2021 1:34:30 PM

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.

 

Level 15
Sep 10, 2021 3:55:13 PM

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.