1687873
You'll need to sign in or create an account to connect with an expert.
The underpayment penalty (charged if you don't pay enough in estimated taxes throughout the year) should be accounted for in your tax due amount; if you're getting a refund, it will also be reflected in the refund (which will be less than if you didn't have the underpayment penalty). You can efile with an underpayment penalty, it's simply part of your overall tax due/refund amount.
The late-payment, late-filing, and interest penalties are handled by the IRS, but that wouldn't apply to this situation.
I see, thanks. I have a payment due and the penalty should be added into it, correct?
That is correct, it's not separate.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
sakilee0209
Level 2
douglasjia
Level 3
garne2t2
Level 1
CI Guy
Level 2
user17518667980
New Member