I keep having to pay a Virginia penalty for underpaying my income tax although all the tax is owed when I vile my state taxes. This penalty tax is not calculated by intuit software although I complain to them. This results on me getting a letter from the state saying I owe a penalty even though I pay what Intuits software calculates not knowing a penalty is owed. I've complained every year to intuit about it when I get a letter from the state, and inutit continues not to calculate it - a blank field.
why do I have to pay a penalty on underestimated tax when this tax is on the stock dividends I collet throughout the year. If one buys and sells stock during the year, one can predict what will earn a dividend and how much vs. not earning a dividend. Thus, at the end of the year one gets a statement saying what one got for the whole year as total dividend across one or more stoccks. This is unfair, since one is being penalized for being an investor although one intends to pay the tax owed and shouldn't be charged a fine/penalty for not being able to predict their gain in dividends. This would seem one should get a credit when their losses of not making the divident that one would like.
Tired of intuit not calculating this penalty and that the state of virginia penalizes me for being an investor that makes money. How much are we talking about in terms of a penaly - its only $38 dollars thereabouts.Moreover, when one pays the penalty on their website, it applies it to the current year and doesn't ask for which year this payment applies. In my case the penalty was for 2023 but it applied it to 2024 and the state of viriginia sent to a collection agency although I paid it thinking it applied it to the past year. Upon calling VA tax agency in Richmond they said I have to write a letter to state move the 2024 payment and apply it to 2023. Hence one has to do this every year that intuit doesn't calculate it and write a letter that takes 2-3 months to correct the misapplication of this penalty paid online.
