I filed my taxes through TurboTax. In the process, it let me know I have an underpayment fee. Was that calculated into what I owe/owed? Any further action needed?
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I filed my taxes through TurboTax. In the process, it let me know I have an underpayment fee. Was that calculated into what I owe/owed? Any further action needed?
TurboTax let me know I apparently owed a $40 underpayment fee. Frustrating, but okay - I'll make adjustments for this year. What I can't figure out is whether this number was included in the calculations for what I owed/was owed between my federal and state return by TurboTax. Do I need to do anything with the IRS outside of TurboTax to ensure this is paid? Or am I all set (pending my federal and state being accepted)?
I filed my taxes through TurboTax. In the process, it let me know I have an underpayment fee. Was that calculated into what I owe/owed? Any further action needed?
Yes the penalty on line 38 is included in the tax due on line 37 or reduced a refund on line 35a. Nothing you have to do.
The penalty on line 38 IS INCLUDED in line 37 tax due. Check, line 37 should be line 24-33. Then add line 38.
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