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Get your taxes done using TurboTax
Yes, TurboTax will help you through informing the IRS that your income wasn't made in equal installments when you prepare your taxes next year. The federal tax system is a pay as you go system. As you make money, you have to pay taxes on that money. You may have an underpayment penalty if you didn't have enough taxes withheld from your income throughout the year.
For more information, refer to the TurboTax help article Guide to IRS Tax Penalties: How to Avoid or Reduce Them.
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‎April 24, 2025
12:24 PM