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New Member
posted Apr 5, 2025 1:46:20 PM

How can request for a fee reversal on an underpayment charge? I was not notified that I was underpaying my taxes.

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1 Replies
Expert Alumni
Apr 5, 2025 2:38:59 PM

For the federal, go to Other Tax Situations, under Additional Tax Payments-- Underpayment Penalties.  

 

You'll have to pay an underpayment penalty for 2024 if you owe $1,000 or more in taxes (after withholding) and:

  • Your taxes withheld don't cover at least 90% of what you owe for 2024, or
  • Your taxes withheld aren't at least 100% of what you owed for your 2023 taxes, if your adjusted gross income (AGI) is up to $150,000, or
  • Your withholding is 110% if your AGI is more than $150,000. (The AGI amount is $75,000 if you're Married Filing Separately.)