The underpayment penalty is calculated if you do not have enough withheld in income taxes throughout the year as you earn your income. Please see this link for more information on annualizing your income to see if that helps reduce some of your underpayment penalty.
To avoid this in the future, you may want to update your W-4 Form to ensure you are withholding enough in income taxes throughout the year. You can update your W-4 within TurboTax itself while preparing your tax return by following these instructions. If you have already filed, you can also use this link to help you update your W-4 Form. Regardless of which option you choose, you will need to print out the W-4, and submit it to your employer in order to have them make the necessary adjustments to your paycheck.
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