You have to edit your personal information on your federal tax return in order to correct your address listed on your state tax return in TurboTax. The underpayment of tax penalty, as reported on form 502UP, normally applies when you end up owing taxes when you file your return. You are required to pay your taxes in during the year, so if you have a significant amount of tax due when you file your return you may be subject to a penalty for late payment of tax.
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