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Get your taxes done using TurboTax
My 2019 AGI is $109k, but I only withheld $7k in federal taxes, so I now owe $11k in federal taxes. Since this is the first time that I owe a tax penalty and that I received a tax refund for federal taxes withheld in 2018, am I able to waive this $250 penalty? Turbotax lets me waive the penalty on the web portal, but I am not sure if it is safe to do so for IRS.
‎June 13, 2020
8:43 AM