I have a Late Payment Penalty, but last year I filed before deadline with TurboTax and IRS debited directly from my bank account shortly after. How do I get rid of this?

We have simple W2 taxes and standard deductions, ran through TurboTax last year same as always but somehow now have a late payment penalty applied when filing this year. I'm trying to understand how this happened when the IRS deducted directly from my bank account the amount that TurboTax said I owed.

1591

Level 15

Apr 15, 2024 11:19:48 AM

You have an Estimated Tax penalty on the Form 1040 Line 38. Not a Late Payment penalty.

You did not pay enough taxes in 2023 so an estimated tax penalty was assessed.

See this IRS Tax Topic - https://www.irs.gov/taxtopics/tc306

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I have a Late Payment Penalty, but last year I filed before deadline with TurboTax and IRS debited directly from my bank account shortly after. How do I get rid of this?