You can have a underpayment of tax penalty even if you received a refund. The underpayment penalty can apply when you don't pay your tax on a timely basis during the year. For example, if you paid all of your income tax via an estimated tax payment in January after the end of the tax year, but you paid more that what your tax was, then you would get a penalty for underpayment of tax even though you would have a refund, since you were supposed to pay the tax in quarterly during the year.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
