AmyC
Expert Alumni

After you file

I think you are getting into the program far enough. I have worked on this for quite a while to get a good tax liability, estimated payments, etc. I entered last year's information with big numbers to make sure I would have a penalty. I got the place to enter income unevenly earned.

From Let's Review Your Underpayment Penalty

  1. Select yes to see if you qualify for exceptions
  2. Enter last year's tax liability
  3. I also checked the box that I started making estimated payments when I realized I needed to
  4. Continue
  5. I randomly selected yes to estimated payments in 2023 and no to PA 40 ESR (both yes did not get me to our goal)
  6. Continue
  7. Screen showing I do not qualify for penalty exclusion
  8. Continue
  9. Screen Estimated Taxes were Required
  10. Continue
  11. Let's see if you earned income unevenly
  12. Select yes
  13. Enter your income by accumulated amount

I had my penalty reduced to $1. 

 

 

 

 

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