We don't know your personal tax situation and we can't see your tax return. However:
- Your penalty may have changed as you were entering amounts in your tax return. The refund/amount due/penalty is constantly changing until you complete your tax return.
- Your penalty may have increased because of the date. If you prepared your return and the date you were going to pay your amount owed changed, from the original date, that would result in an increase in an underpayment penalty.
The IRS levies underpayment penalties if you don't withhold or pay enough tax on income received during each quarter. Even if you paid your tax bill in full by the April deadline or are getting a refund, you may still get an underpayment penalty.
To possibly reduce or eliminate your underpayment penalty, open your return in TurboTax and search for annualizing your tax (use this exact phrase). This will take you to the underpayment penalty section and we'll take you through the steps to possibly reduce what you owe.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
