Filed Fed and Calif taxes in October under extension.
The State taxes withheld were from savings and pension payments. No Estimated Payments made.
Today I received a letter from the FTB- Calif stating that I still owe about $76 in penalty and $23 in interest.
These amounts were NOT calculated by TT.
The amount calculated by TT was $28 on Form 5805.
Can this discrepancy be explained? Is TT miscalculating the penalty?
Thanks in advance for any clarification
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In this Public forum, We can't see what you did or didn't do that resulted in the increased penalty.
....BUT...purely guessing one possible situation:
The penalty calculated by TTX "might" be the amount if you had paid your taxes due to CA before 15 April. If you didn't pay all of it by 15 April, then the extra $$ assessed by CA may be due to your not paying on time, so they added some more penalty/interest.
i.e. the extension only extends the data/paperwork filing date...not the 15 April payment deadline.
Not sure what they might adjust for folks in the January L.A. county declared disaster area, if it was supposed to apply to you.....but you could always call the FTB and ask what you need to do if that is your situation...there should be a telephone number on their letter.
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