@khurramch079 wrote:
Hi Opus
Thanks for the reply
i don’t have any previous penalties
and i filed my taxes on time
i didn’t hide any income from IRS
I don’t have any pre-tax deductions or 401k
as i said earlier i have lost my jobs and that last job i am currently working
As I said, proper withholding was your responsibility, and there is no provision in the tax code for anyone to get tax forgiveness because their W-4 was wrong.
If you used Turbotax or some other company's tax estimator, you might want to double check at the IRS web site here. https://www.irs.gov/individuals/tax-withholding-estimator
If your estimate is correct, it seems you will owe a substantial amount. Pay as much as you can and request a payment plan for the rest. https://www.irs.gov/payments/payment-plans-installment-agreements
Here is the link to request penalty abatement. It will be easier to get penalty relief if you don't pay the penalty up front (if one is calculated for you by Turbotax). Wait for a bill, then apply for relief. https://www.irs.gov/businesses/small-businesses-self-employed/penalty-relief-due-to-first-time-penal...
Good luck.
