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Returning Member
posted Apr 5, 2024 11:33:21 AM

I made California estimated tax payments equaling 100% of my prior year's total tax liability, and yet this year, TTAX says I owe underpayment penalty. Why? How to fix?

My understanding is by making CA estimated tax payments equaling 100% of my prior year's total tax liability, I will be in "safe harbor" and will NOT be charged underpayment penalty even if I owe CA taxes for this year's return.

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