Massachusetts state tax question.
In April I couldn't finish my taxes so I did the extension and paid with the extension $628 to the state.
Now I'm ready to file and see a discrepancy where the cover page says I'm owed $7 refund but my actual printed tax forms don't say $7 anywhere. In fact the tax form says $29 refund. I don't want any problems with the Tax department, I'm happy to get $7, but why doesn't my tax form say $7?
Here is the info from my TurboTax cover page (filing instructions page):
After doing all the work of figuring out my taxes, my actual tax due was $599 but there was penalty/interest of $22, so the total tax due was $599 + $22 = $621 (it doesn't spell it out above but that's what I think, reading between the lines).
Remember I paid $628 in April with my extension, so the amount of the refund should be $7 ($628 - $621). The TurboTax cover sheet above says Refund with penalty is $7, I'm happy with that.
My problem is below, the actual tax form that's going to be sent out doesn't say $7. It says Refund $29. I don't want a problem with the state tax department... I don't want them to think I'm asking for $29, because I only want $7. Is this a bug and what should I do to fix this?
Thank you
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It looks like it shows a $22 penalty for M-2210 at the bottom. Google says that is for underpayment of estimated taxes.
Yes the $22 you spotted is correct. I am trying to find out if Refund amount on line 53 should be reduced by the penalty amount on the MA Form 1.
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