@AArnott wrote:
What happens after 2/24 and TurboTax updates again? Will TurboTax possibly realize a change is appropriate and suggest I file an amended return?
It's unclear what you actually filed. Did you print or save a copy of your return at the time you filed? Unfortunately, Turbotax online does not "lock" your file into the as-filed state, although it probably should.
If you did not include a penalty calculation in your actual return, then do nothing for now. If the IRS sends you a bill for a penalty, you can appeal or request a waiver.
If you did include a penalty calculation and you paid the penalty (or it was subtracted from your refund), then wait until your tax return is processed and any refund is paid. You may be able at that point, to file an amended return to remove the penalty and claim the penalty amount you paid as an additional refund.
