My 2015 taxes were $7725, $6079 was withheld BUT I paid $1663; the actual difference between taxes and withholding is $1646 - why did turbo tax have me pay $17 more?
03299
1 Best answer
jerry2000
Alumni
May 31, 2019 6:23:39 PM
That is interest as a penalty for underwithholding. In general, if you owe more than $1,000 when you file, you have to pay interest.
3 Replies
SweetieJean
Level 15
May 31, 2019 6:23:37 PM
Maybe an underpayment penalty?
jerry2000
Alumni
May 31, 2019 6:23:39 PM
That is interest as a penalty for underwithholding. In general, if you owe more than $1,000 when you file, you have to pay interest.