I submitted TT return on 2/24. It was accepted and I requested my bank to pay my state tax due on April 14.
However, I got a mail from PA revenue, stating that :
Penalty Type: Estimated Underpayment Penalty
Penalty Amount Waived: $xx.xx
Period Ending: 12/31/2022
At the bottom off the letter, it says no further action is required at this time.
TurboTax caculated I owe X amount of tax. Will this penalty amount , say Y will be deducted from the tax I owe?
How will this work? I already instructed bank through TT to pay X amount of taxes on April 14.
Thanks.
