No matter what I do, I keep getting an underpayment penalty. This should not be the case if this is a federal program to postpone SS taxes. “You have a penalty of $345 for underpayment of estimated taxes. Your federal refund was lowered and is now $512”. Even if I update Box 4 on the W2 to the correct amount of SS wages, TT still forces this underpayment penalty. I even tried using “Actual Withholding” – > Tax Payments by Quarter, Date of Payment, Penalty Waivers -> Late Payment Penalty -> Underpayment Penalty, which results in the same penalty.
