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Yes, most IRS tax penalties are based on a percentage of the tax underpayment caused by a mistake. How it works: Accuracy-Related Penalty: Usually 20% of the underpaid tax if the IRS determines the error was due to negligence or substantial understatement. Late Filing Penalty: Typically 5% per month of the unpaid tax, up to a maximum of 25%. Late Payment Penalty: Usually 0.5% per month of unpaid tax, up to 25%. Fraud Penalty: Much higher — up to 75% of the underpaid tax if intentional fraud is involved. The IRS looks at intent, negligence, and the size of the error to determine the penalty. Small mistakes due to oversight may incur lighter penalties than significant underreporting or fraud. Keeping books accurate, reconciling accounts regularly, and maintaining proper documentation can significantly reduce mistakes that trigger IRS penalties. Services like Ledger Labs provide bookkeeping and tax support, which helps small businesses stay compliant and avoid costly errors.

@wrshirleytaxes101      I'm assuming the email you got said TT 2025 will NOT run on Windows 10?  Or that Turbo Tax Online will run on Windows 10.     Sorry you will need Windows 11 for the Desktop program.  2024 & 2025 Turbo Tax Desktop Download System Requirements. For 2025 you will need Windows 11 or later or Mac OS Sonoma 14 or later (newer). Click on the 2025 tab at the top. https://turbotax.intuit.com/personal-taxes/cd-download/tta-system-requirements  

Check this site for online it says form 6781 will be ready 1/15/2026 but you'll probably need the premier version of online https://form-status.app.intuit.com/tax-forms-availability/formsavailability?albRedirect=true&product=Turbotax_online&bu=cg    online does not require W11. 

At this point, I think you have only a few options, one of which would be to use a program from a different provider, such as H&R Block or TaxAct, both of which run on Windows 10.   Alternatively, you would need to buy, or get access to, a machine that can run Windows 11 or run it in some sort of VM.

My current Workstation is Windows 10 and will not run Windows 11 as is.  I'm NOT excited about TPM 2.0 which must be present when MS checks your computer for eligibility to install Windows 11!  I CAN'T run "Online" since I have Section 1256 options contracts, which are not supported online.  I must use Desktop.  I received an email dated 10/23/2025, stating that TT2025 WILL run on Windows 10!  I'm very confused and unhappy, since TurboTax has already hit my credit card for the download and it will not install!

sounds like some sort of problem with your Mac setup, suggest googling for possible solutions and also check/post in the apple discussions forum e.g. https://discussions.apple.com/thread/7818490?sortBy=rank