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Level 1
April 2, 2026
Question

How can I save my progress?

  • April 2, 2026
  • 1 reply
  • 80 views
what does it means this part 2024 tax liability? and it shows a penalty as well. I don't have a business.

1 reply

DaveF1006
Level 15
April 2, 2026

To find out what your 2024 tax liability is, you will need to look at your 2024 return and look on line 24. Even if you don’t have a business, the IRS can add penalties for a few common reasons:

 

  1. If you didn’t have enough tax withheld from your paycheck during the year, the IRS may charge a small penalty. This often happens if:
  • You changed jobs
  • You didn’t update your W‑4
  • You had side income (even small amounts)
  • You had unemployment benefits
  • You withdrew from retirement accounts
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