Sorry, maybe the word I needed was the "interest"--on the penalty and/or on the tax due. As I recollect, TurboTax indicated that the amount I owe will depend on when I pay my last year's tax plus a penalty for not making estimated or other payment in a timely way, plus interest that would depend on when I make my payment. (However I cannot now find anything about this in my TurboTax program.)
Please see below--
Do you pay an estimated tax payment? No, because my wife normally has taxes withheld from her job. But last year there was a screw-up and that didn't happen.
Do you have a 1099-NEC? Not sure. I am now on the road and will examine this when I get home in 3 weeks.
Are your taxes for 2021 more than your 2020 tax liability? About the same.
Do your total withholdings, including estimated tax payments, equal your tax liability in 2020? See above regarding the failure to withhold taxes.
Are you a W-2 employee? My wife is.
If you have a 1099-NEC, did you make estimated payments based on this income? No.
Thank you for your input.
