ThomasM125
Expert Alumni

Get your taxes done using TurboTax

Since you owe more than $1,000 in taxes, it is possible you will have a penalty for late payment of tax. 

 

You can go through the Underpayment penalties section which you will find in the Other Tax Situations menu to see if you can reduce your late payment of tax penalty. In that section, you enter your tax liability and associated withholdings and estimated taxes by quarter. That may allow you to reduce or avoid a penalty, especially if your income varied greatly by quarter.

 

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