Any reason why the FTB would send back the underpayment penalty $$ amount Turbotax figured and I included with my tax payment?
0311846
3 Replies
VolvoGirl
Level 15
May 2, 2024 3:10:21 PM
The penalty is just an estimated amount. It's common for the IRS or state to refigure it and send you a refund or tax due foe more.
freddytax
Level 3
May 2, 2024 3:13:14 PM
I have had the IRS send back $$ that I extended in a preemptive attempt before the actual bill came. This is the CA FTB so I'm not sure what it means by their sending back $$ already. Maybe they want to do their own calculation first?