Vanessa A
Employee Tax Expert

Get your taxes done using TurboTax

Where do you see you are getting a penalty for 2022?  If it is an underpayment penalty that means you did not pay enough in during 2022.

 

If you accidentally overpaid for 2021, this will not really affect your 2022 taxes since it was refunded to you.  Every tax year is separate from the previous tax year.  So you don't really get a benefit from having a refund from the previous tax year.

 

Your tax liability for 2021 would be found on line 18 of your 2021 return.  If you have taxes due this year and paid at least 110% of your tax liability found on line 18 for 2021 or 90% of your tax liability for 2022 then you can walk through the steps to have your penalty eliminated.  

 

You can do this by taking the following steps 

  • Other Tax Situations
  • Show more next to Additional Tax Payments
  • Start next to Underpayment penalties

 

 

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