https://ttlc.intuit.com/community/after-you-file/discussion/neither-are-wrong-the-tt-program-calculates-an-estima/01/759862#M150366 <P>Neither are wrong ...</P><P>The TT program calculates an estimated underpayment penalty based on the entries you made in the program however the feds &amp; state reserve the right to bill you for underpayment penalties based on the info they have (which may be different from what you entered) and when the taxes where actually paid.&nbsp; Also they will calculate late filing &amp; late payment penalties and add interest as needed.&nbsp;</P> Fri, 07 Jun 2019 22:11:40 GMT Critter 2019-06-07T22:11:40Z https://ttlc.intuit.com/community/after-you-file/discussion/turbotax-determined-that-i-did-not-owe-a-penalty-yet-the-irs-just-sent-me-a-bill-for-one-anyway-who/01/759855#M150362 Fri, 07 Jun 2019 22:11:37 GMT https://ttlc.intuit.com/community/after-you-file/discussion/turbotax-determined-that-i-did-not-owe-a-penalty-yet-the-irs-just-sent-me-a-bill-for-one-anyway-who/01/759855#M150362 peterbaumgart 2019-06-07T22:11:37Z https://ttlc.intuit.com/community/after-you-file/discussion/neither-are-wrong-the-tt-program-calculates-an-estima/01/759862#M150366 <P>Neither are wrong ...</P><P>The TT program calculates an estimated underpayment penalty based on the entries you made in the program however the feds &amp; state reserve the right to bill you for underpayment penalties based on the info they have (which may be different from what you entered) and when the taxes where actually paid.&nbsp; Also they will calculate late filing &amp; late payment penalties and add interest as needed.&nbsp;</P> Fri, 07 Jun 2019 22:11:40 GMT https://ttlc.intuit.com/community/after-you-file/discussion/neither-are-wrong-the-tt-program-calculates-an-estima/01/759862#M150366 Critter 2019-06-07T22:11:40Z