It depends.
Generally, you'll have to pay an underpayment penalty for 2021 on your federal taxes if you owe more than $1,000 in taxes (after taking withholding into account) and:
* Your taxes withheld don't cover at least 90% of your 2021 tax liability, or
* Your taxes withheld aren't at least 100% of your 2020 tax liability if your AGI is up to $150,000 or 110% if your AGI is more than $150,000. (The amount is $75,000 if you're married filing separately.)
Underpayment penalties are also assessed if you don't withhold or pay enough tax on income received during each quarter. In fact, it's entirely possible to get hit with an underpayment penalty even though you paid your tax bill in full by the April deadline or are getting a refund.
Your state guidelines for assessing a penalty are most likely different. If you tell us your resident state, we can provide further information for why you may have been assessed a penalty.
@Gloria16
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