@rtrace11 wrote:
It is a CP14, Underestimated Tax payments. Turbotax told me at filing there would be none ....
That would not fall under the Accuracy Guarantee. There is no failure to pay penalty and interest on taxes owed in 2019 until after July 15, 2020.
IRS CP14 - https://www.irs.gov/individuals/understanding-your-cp14-notice
No Underpayment of Estimated Tax would be owed if -
Generally, most taxpayers will avoid this penalty if they either owe less than $1,000 in tax after subtracting their withholding and refundable credits, or if they paid withholding and estimated tax of at least 90% of the tax for the current year or 100% of the tax shown on the return for the prior year, whichever is smaller.
What exactly does the notice indicate why you would have an Underpayment of Estimated Tax on the 2019 tax return?
