Do I really have to pay an underpayment of estimated tax since I've never heard of such a thing before? what the heck is this?

allectron — Tue, 04 Jun 2019 19:22:55 GMT

Sorry, but yes. The IRS expects payment of taxes on a "p...

Kat — Tue, 04 Jun 2019 19:22:56 GMT

Sorry, but yes. The IRS expects payment of taxes on a "pay as you go" basis. In other words, they require payment of your taxes each quarter on the income you earned that quarter. See the TurboTax FAQ below for more explanation.

https://ttlc.intuit.com/replies/4242891

topic Do I really have to pay an underpayment of estimated tax since I've never heard of such a thing before? what the heck is this? in Get your taxes done using TurboTax

Do I really have to pay an underpayment of estimated tax since I've never heard of such a thing before? what the heck is this?

Sorry, but yes. The IRS expects payment of taxes on a "p...