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Deductions & credits
When you were going through the TurboTax interview, were you ever advised that you might owe an underpayment penalty? TurboTax will calculate any penalty for you and then advise that you can pay the penalty at that time, or you could have the IRS figure out the penalty for you and bill you for it. When you file your taxes, TurboTax will give you options for paying the balance due that you owe - keep in mind that you can file your return at any time before the filing deadline of 4/15/2026 and schedule to pay the balance due by 4/15/26 without incurring additional penalty amounts.
If you think you might owe taxes for 2026, it is best to used timely estimated payments that are paid through out the year. The IRS works on a "pay as you go" system and expects tax payments to be paid at regular periods throughout the year rather than one lump sum at the end of the year. It is possible to get a refund and still be penalized for not making timely payments of your income taxes.
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