Thanks for the quick response. To clarify; my 2022 Fed taxes was $91,911 and the TT 110% for 2023 estimated taxes was $101,103. Expected withholding was for 2023 was $46,065 (2022 actual). The TT estimated taxes for 2023 to be paid after withholding was $55,038. I paid a total 2023 estimated taxes of $55,040. I paid the 2023 quarterly estimated taxes in accordance with the date of the 2023 disaster extension date of 10/16/2023.
"Victims of severe winter storms, flooding, and mudslides in California beginning Jan. 8, 2023, now have until Oct. 16, 2023, to file various individual and business tax returns and make tax payments." I am thinking that the TT calculated 2023 underpayment penalty ignores both the 110% total payment and the disaster tax extension date.
My Cal State 2023 quarterly estimated taxes was also paid in accordance with the disaster tax extension date of 10/16/23, but it appears that my TT calculated State Form 5805 worksheet shows penalties for not making 2023 estimated payments prior to the 10/16/23 disaster extension date. I paid the full quarterly 2023 estimated taxes calculated by TT of $10,600 by 10/16/23 electronically. Thanks for your help.
