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FTB of CA Sent Back Underpayment Penalty

Any reason why the FTB would send back the underpayment penalty $$ amount Turbotax figured and I included with my tax payment?

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3 Replies

FTB of CA Sent Back Underpayment Penalty

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.  

FTB of CA Sent Back Underpayment Penalty

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?

FTB of CA Sent Back Underpayment Penalty

Thanks, VolvoGirl, I figured same.

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