You'll need to sign in or create an account to connect with an expert.
Yes the IRS can penalize you for failure to timely pay in enough taxes to meet one of the exceptions.
here are the rules
There will be federal penalties for not paying in enough taxes during the year if withholding and
Turbotax relies on the amounts you entered to determine if penalties are owed. The IRS probably can have different data. The notice should show the data the IRS used to calculate the penalty. If you have documentation that the IRS is wrong, you can follow the instructions to refute the penalty.
income data from the 2022 would be based on your return as originally filed unless there was a substantial understatement.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
ash49
Level 2
JRB0
New Member
chiguy2016
Level 2
darrell5560
New Member
ZPPM
Level 1
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.