Get your taxes done using TurboTax

If TurboTax calculated an underpayment penalty, visit or revisit the Underpayment Penalty section in TurboTax under Other Tax Situations and answer the questions to determine whether you meet an exception to the penalty, or to ask for a waiver of the 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.

If you're at risk for an underpayment penalty next year, TurboTax can automatically calculate quarterly estimated tax payments and prepare vouchers (Form 1040-ES) for you to print. 

You can print next year's estimated tax vouchers (Form 1040-ES) in your 2023 program:

1. Sign in to your TurboTax account, then open your return by selecting Continue or Pick up where you left off in the progress tracker.
2. When your return is open, search for 1040-es (be sure to include the hyphen) and select the Jump to link in the search results.
3. Answer No to the question Do you want to change your W-4 withholdings for 2024?
4. Answer the questions about things like your 2024 filing status, income, and deductions.
5. Eventually, you'll come to the Print Vouchers? screen. Answer Yes and we'll include your 2024 1040-ES payment vouchers when you print a copy of your return later.
   • If you get the No Payments screen instead, you don't need to make 2024 estimated payments based on what you entered.
   • To check that the forms were added to your return, you can go to Tax Tools in the left menu, then Tools. In the pop-up, select Delete a Form. From here, you should see Form 1040-ES in the list of forms included with your return. You won't actually delete it, but this allows you to confirm it's there.

See this help article and this one for more information.

This TurboTax tips article includes a good explanation of quarterly estimates.