I'm self employed so I pay estimated taxes every quarter, ahead of time, via IRS direct. Being self employed I have to make an educated guess as what my income will be-usually I'm fairly close. For the year 2023 I paid 2,500/2,500/2,500/5,000. What I don't understand, on a $380 refund, I was assessed a $12.00 penalty-for what? If it makes any difference I got refund from the state. Can anybody offer me an explanation about the penalty? Thanks
