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Level 3
posted Jun 7, 2019 5:17:07 PM

I received a CP14 from the IRS stating that I owe a penalty for 2018: Failure To Pay Proper Estimated Tax Penalty. Is the IRS unaware of the threshold reduction to 80%?

Is there an official document that I can reference?

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1 Best answer
Level 15
Jun 7, 2019 5:17:08 PM

https://www.forbes.com/sites/ashleaebeling/2019/03/22/irs-expands-tax-underpayment-penalty-relief/#7...

https://www.irs.gov/pub/irs-drop/n-19-25.pdf

2 Replies
Level 15
Jun 7, 2019 5:17:08 PM

https://www.forbes.com/sites/ashleaebeling/2019/03/22/irs-expands-tax-underpayment-penalty-relief/#7...

https://www.irs.gov/pub/irs-drop/n-19-25.pdf

Level 3
Jun 7, 2019 5:17:10 PM

Very Helpful -- Thank you. Confusing--even though you don't owe a penalty--you need to ask to have it waived. Why did TurboTax not do this proactively?  So if I understand correctly since I have already paid my taxes I should pay the non-penalty penalty and then ask for a refund?