@DesertRatJim wrote:
The one Turbotax is calculating because my withholding amount was not within 10% of what I owe. First time I've ever run into it.
That is an Underpayment penalty based on the tax payments that were made in 2021. It is calculated on Form 2210 and entered on your 2021 tax return as a penalty. Interest is charged on the underpayment starting on the due date of the taxes owed.
Go to this IRS website - https://www.irs.gov/payments/interest-on-underpayments-and-overpayments
