I'm reviewing my return before E-filing. My tax refund on 1040/1040SR line 35 is less than my tax payment overpaid line 34. What can I do to get the full refund?

[VolvoGirl]

It's either you told it to apply part of your refund to next year.  Check line 36.

OR you have a underpayment penalty on line 38.

If you do not pay in enough tax from withholding and estimates, you may have to pay a penalty for underpayment of estimated tax. Even if you are getting a refund you can still owe a penalty for not paying in evenly during the year. Generally, most taxpayers will avoid this penalty if they owe less than $1,000 in tax after subtracting their withholdings and credits, or if they paid at least 90% of the tax for the current year, or 100% of the tax shown on the return for the prior year, whichever is smaller. It is included in your tax due or reduces your refund.

You might be able to eliminate it or at least reduce it. You can go to Federal Taxes tab or Personal tab, under Other Tax Situations and select Start by the Underpayment Penalties. You will answer a series of questions that may reduce or eliminate the penalty. Or you can elect to have the IRS figure the penalty for you. It's form 2210.

It's under

Federal or Personal (for Home & Business Desktop)

Other Tax Situations

Additional Tax Payments

Underpayment Penalties - Click the Start or update button

[CCDAve]

Yes, I have a penalty for not making even tax payments throughout the year although my 2023 retirement income dropped from 2022.  I hoped the large year end payment would suffice, and I overpaid.  I was affected by a natural disaster and am applying for a waiver under the emergency declaration with form 2210.  Thanks for helping me find the reason.