I used Turbotax to file my tax last year, but I received a notice from IRS that I underpaid. How did it happen? How can I prevent it this year?

christophergueva · ‎February 23, 2024

PaulaM · ‎February 24, 2024

There are a couple of ways that you might prevent an underpayment penalty for 2024.

You can increase your workplace withholding on your W-4 form. You can complete a new 2024 W-4 form in the Other Tax Situations section and give to your employer.
You can pay estimated taxes for 2024 based on what you owe for 2023. See this FAQ for how that is calculated in the same section.

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