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lei217
New Member

Is there a penalty for underpaying Wisconsin State taxes?

I had to payback $2000 for Wisconsin state income tax in 2015. I didn't deduct enough in my paycheck every month. I made the payment when I filed for tax return. Is there an underpayment penalty in Wisconsin? Is there a penalty for underpayment in Federal taxes?
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Bees
Level 7

Is there a penalty for underpaying Wisconsin State taxes?

It appears the state does charge interest on unpaid tax. https://www.revenue.wi.gov/faqs/pcs/underpayment.html

Disclaimer: Not a tax professional. Information gathered from internet links. Anything dated in June 2019 was posted in prior years and is before the 2019 limits and changes.

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1 Reply
Bees
Level 7

Is there a penalty for underpaying Wisconsin State taxes?

It appears the state does charge interest on unpaid tax. https://www.revenue.wi.gov/faqs/pcs/underpayment.html

Disclaimer: Not a tax professional. Information gathered from internet links. Anything dated in June 2019 was posted in prior years and is before the 2019 limits and changes.
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