What is 2020 federal tax liability for 2210 purposes

[PCake]

Hi,

I don't understand why I would have underpaid in 2020 if I used turbotax to file.  All the income was included in the tax return.  Did turbotax not report the correct amount owed to the federal government? 

I don't think this is right.  I paid the amount owed to the federal government as expected and now I have a 2210 form.   I even spoke to a tax expert live last year (2020 taxes).

Please explain.

PCake

[VolvoGirl]

Did the IRS send you the 2210 and a bill for 2020?  Or is this on your 2021 return?

If you do not pay enough tax, you may have to pay a penalty for underpayment of estimated tax. Even if you are getting a refund you can still owe a penalty for not paying in evenly during the year.  Generally, most taxpayers will avoid this penalty if they owe less than $1,000 in tax after subtracting their withholdings and credits, or if they paid at least 90% of the tax for the current year, or 100% of the tax shown on the return for the prior year, whichever is smaller. It is included in your tax due or reduces your refund.

[BB515]

What does term tax liability mean on form 2210?  Is that just the same as your entire federal tax 

[TiffanyL]

Your tax liability is the total amount of tax on your income minus any non-refundable credits such as child tax credit, saver's credit, dependent care credit to name a few:

What does "tax liability" mean?