I received an IRS notice CP23 for Tax year 2021.
I paid estimated tax of $9000 on 1/21/2022 (deadline is 1/18/2022) but the IRS notice shows lesser amount/credit of $8820. Does IRS automatically deduct penalty if the estimated tax payment is late? Is this normal?
While preparing my fed return using turbotax I entered estimated tax payment with the date 1/21/2022. On the Form 1040 Line #38 Estimated tax penalty shows 0. Turbotax does not seem to calculate the estimated tax penalty properly if the above the IRS credit as listed above is accurate.
IRS phone line seems to be busy to get a clarification. So wanted to find out if this is a calculation error on IRS end or I should be paying the penalty amount per the notice.
