DianeW777
Expert Alumni

Get your taxes done using TurboTax

It depends. It is not likely that it has anything to do with your 2022 tax return.  

 

Reasons why a penalty could occur on your current (2023) tax return:

  1. Estimated payments were made, however they were not paid on time (this can apply even if there is an overall refund on the return).
  2. As an employee there was not enough withholding to cover your total tax based on the W-4 you would have completed for your employer.
  3. An unexpected event occurred that gave an additional amount of income where no tax withholding was taken.

Here are the exceptions to the penalty (Form 2210 Instructions:(  

Exceptions to the Penalty: You won't have to pay the penalty or file this form if either of the following applies.

  1. You had no tax liability for 2022, you were a U.S. citizen or resident alien for the entire year (or an estate of a domestic decedent or a domestic trust), and your 2022 tax return was (or would have been had you been required to file) for a full 12 months.
  2. The total tax shown on your 2023 return minus the amount of tax you paid through withholding is less than $1,000. To determine whether the total tax is less than $1,000, complete Part I, lines 1 through 7.
    1. What is Form 2210?
    2. How do I preview my 1040 before filing?

@shroggy 

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