I did my taxes on Turbo Tax yet I have a penalty/interest charge on my federal return of $216. Why? Can I get a refund? I have already mailed in my tax payment.
You'll need to sign in or create an account to connect with an expert.
The penalty may be for late payment of tax. Typically, if you owe more than $1,000 when you submit your tax return you will get a penalty for late payment of tax. It can also happen if you pay most of your taxes in toward the end of the year as you are required to pay taxes quarterly based on your previous or current year tax liability.
The only way you could protest that would be to submit a Form 2210 that will allow you to report your income on a quarterly basis so it may better reflect the tax payments you made during the year. You will see an option for that in the Other Tax Situations section of TurboTax. Choose Additional Tax Payments then Underpayment Penalties. You can amend your return by logging into your TurboTax program to complete and submit the Form 2210.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
nmbeck
New Member
jgreen316
New Member
cck
New Member
miriamlara10
New Member
madonim
New Member