I am stumped this year in the Illinois tax penalty section as to why it is not showing that I owe a penalty? I know I do and in prior years, i.e. 2024, etc the amount showed. I did not fill out the annualization form (IL-2210) because it did not pop up and thus did not allow me to. My hand calculation shows about $70 lower penalty than if I had annualized. That is small but the state is asking for another $150, I will have get their explanation. So, what’s up with the Turbo tax calculation? On a side note, this calculation is really only on non W2 income since the state evens out W2 income even if you earned it on the front end which should reduce the penalty more. Am I missing something here?
Any insight would be helpful. Thanks.
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My first thought was you owe less than $1,000 or paid 100% of last year's tax - so no penalty. It sounds like you received a letter with a $150 penalty from the state which is a big deal. In that case, you do want to annualize the income. You will need to use the desktop version to force open the annualization form. Since you have already filed, select that you want to amend. Choose that you need to use desktop. See instructions here.
You do not want to amend the whole state return. You just need the annualized income to send back with the letter you received. Note that you disagree with their penalty using the annualized method.
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