topic Question on waiver on underpayment penalty in Get your taxes done using TurboTax

Question on waiver on underpayment penalty

scuba1gary — Fri, 28 Feb 2020 22:20:55 GMT

I notice the verbiage on the waiver on underpayment penalty and it says

"You retired (after reaching age 62) or become disabled during the tax year....

I retired last year at 66. Does this apply to all ages that retire after 62? It does not say 62 only.

Re: Question on waiver on underpayment penalty

Anonymous — Fri, 28 Feb 2020 22:27:12 GMT

all ages after 62 who retire in the year. you could be 162 and retire in that year and qualify.

Re: Question on waiver on underpayment penalty

Rick23slash — Wed, 20 May 2020 11:26:28 GMT

Hello there,

My employer did not withhold taxes from my earnings and now it shows I have a penalty for underpayment of taxes. Would I be able to request a waiver for the penalty since it was the employer fault?

Thank you,

Rick

Re: Question on waiver on underpayment penalty

Carl — Wed, 20 May 2020 12:19:07 GMT

You retired (after reaching age 62) or become disabled during the tax year....

I retired last year at 66.

By my count, 66 does come after 62.

Re: Question on waiver on underpayment penalty

Critter — Wed, 20 May 2020 12:49:00 GMT

@Rick23slash

Did the employer issue you a W-2 form ?

Or did you get a 1099-misc ?

Re: Question on waiver on underpayment penalty

Rick23slash — Wed, 20 May 2020 13:23:46 GMT

Yes, I am a W-2 employee.