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lundblad
New Member

need waiver, relief from underpayment penalty

need waiver, relief from underpayment penalty due to unusual income changes

 

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ThomasM125
Expert Alumni

need waiver, relief from underpayment penalty

You can see if reporting your tax payments under the annualized income installment method will lower your late payment of tax penalty. You will see that routine in the Other Tax Situations screen in TurboTax. Choose Form W-4 and estimated taxes:

 

 

If that doesn't help you, you may be able to apply for a first time abatement of penalty relief from the IRS. You can learn more about that here:  IRS 1st Time Penalty Abatement To do that, you would write a letter to the IRS to protest the late payment penalty and give reasons as to why you feel you deserve relief. It may work if you have a history of timely tax payments with the IRS.

 

 

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