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godeban
New Member

penalty for not pre-paying tax in IRS Account transcript. Do I have to pay or paid? please help

I have not received any letter from IRS for penalty or other but I see an entry in my IRS account transcript like below esp. code 170. 

code 150 Tax return filed56609
code 806 w2 or 1099 withholding-45190
code 610 payment with return-11484
code 170 penalty for not prepaying tax65

 

Do I have to pay entry called code 170, as it says penalty. When I add all transactions, all sum to zero. 

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1 Reply
Anonymous
Not applicable

penalty for not pre-paying tax in IRS Account transcript. Do I have to pay or paid? please help

you owe nothing the tax is 56, 609 code 150

the penalty is                                 65 code 170

total  owed                            56,674

withholding                          45,190 code 806

paid with return                   11,484 code 610

total paid                              56,674

balance due                         00000

          

 

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