- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
I have not noticed other posts similar to yours where there is a questionable underpayment of tax penalty. Even if you don't owe significant taxes when you file your return, you can be subject to an underpayment of tax penalty, as it is based in part on when you pay your taxes during the year.
You can work through the Underpayment penalties section of TurboTax, which is in Other Tax Situations section to see if you can eliminate your penalty based on the timing of the receipt of your income and tax payments. You can indicate that you want to enter a state tax return or that you want to amend your tax return in TurboTax to get back into the program.
Also, the IRS would likely refund the penalty if they determined it was not owed when they process your tax return.
**Mark the post that answers your question by clicking on "Mark as Best Answer"