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  • Re: Why do I have a $126 Penalty/Interest on my 2023 Tax return? How do I find out what that fee is to prevent in future and possibly reverse the charge?
Bsch4477
Level 15 Bsch4477
Level 15
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Get your taxes done using TurboTax

A federal tax debt greater than $1000 will incur a penalty. If this is the first time you have been assessed this penalty you can ask that it be waived. 

https://www.irs.gov/payments/underpayment-of-estimated-tax-by-individuals-penalty

 

 

 

 

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‎May 23, 2024 7:16 AM
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