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Wrong tax penalty
My 2015 taxes were only $9618. I had made estimated tax deposits of $51772. I didn't get the $42154 + interest refund until March 22017. Now in 2016 I made deposits of $47186 ( which equals 490% of my 2015 tax) and owe additional $22756.
Since I made deposits well beyond the required 110% of 2015 tax I should not have any penalty for 2016. But, my 1040 line 79 shows a penalty of $409. How do I get that corrected?
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‎June 1, 2019
12:52 AM