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What Triggers Underpayment of Estimated Taxes
Hi,
This is for New York State taxes.
What triggers "Underpayment Of Estimated Tax By Individuals and Fiduciaries?
I've never estimated my taxes and I can't see in TT why this form printed out. Also 4 Estimated Payment Vouchers For Individuals for 2021 printed out as well.
My 2020 New York Tax Return Summary says: Payment Due $392...I get that, then a Penalty/Interest of $7.
Also in the bottom Box of the Summary page is a schedule for four vouchers to be paid in 2021...saying this is my New York Estimated Payment Vouchers for 2021?
Why did this happen? I was just going to have the money I owe for 2020 taken out of my account.
Any insight would be helpful and appreciated.
Thanks for your time.
March 14, 2021
5:01 PM