The $76 is your underpayment penalty for 2023.
Underpayment penalties apply if you don't withhold or pay enough tax on income received during each quarter.
If you paid your tax bill in full by the April deadline or are getting a refund, you may still get an underpayment penalty.
To possibly reduce or eliminate your underpayment penalty, open your return in TurboTax and search for annualizing your tax (use this exact phrase). This will take you to the underpayment penalty section and we'll take you through the steps to possibly reduce what you owe.
Click here for Department of Revenue Michigan information on underpayment of estimated tax penalty.
Click here for information about estimated tax underpayment penalties and a tool to figure your estimated taxes.
Click here for additional information on why you are getting an underpayment of estimated tax penalty.
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