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New Member
posted Jun 1, 2019 12:04:34 PM

I received a refund on the taxes I paid to the fed. Why?

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1 Replies
Level 15
Jun 1, 2019 12:04:36 PM

FYI ... the IRS will send a letter of explanation in the next couple of weeks however the probable reason is the late changes in the underpayment penalty calculations ... the % was reduced twice from 90 to 85 to 80 ... so for those who filed early they are rebating all or a part of the penalty ... look on the form 1040 line 23.