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Get your taxes done using TurboTax
I totally agree that Turbo Tax seems to be overstepping in figuring tax penalties associated with estimated taxes. I not only overpaid my 2019 estimated income taxes, but I overpaid my actual 2018 taxes. Turbo Tax is calculating over $1000 in penalties because the payments were not made in equally divided amounts. There are a variety of reasons that people need to pay in varying amounts. For instance, I am not guaranteed income and the amounts vary greatly when it is received. In 2019, when I received income, I increased each quarterly payment to account for the income. TurboTax does not work with this situation well. I have tried to calculate the penalties using each method Turbo tax offers. Nothing helps. The only way to remove the penalty is to answer the questionnaire requesting a waiver and your statement for making the request is put at the back of the return. I'd like to be able to delete the form entirely since I am due a huge refund. A penalty on funds that I overpaid in advance is ridiculous. TurboTax needs to fix this so I can send in the form if needed and eliminate it if not necessary,