turbotax icon
turbotax icon
turbotax icon
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

MattiG
Returning Member

Self Employment Taxes

For the past two years, I've been assessed a penalty even though I've paid my quarterly federal income taxes (and this year received a refund), why am I being assessed a penalty?

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
VincentL
Employee Tax & Finance Expert

Self Employment Taxes

You should have received a letter from the IRS stating the reason a penalty was assessed. Please review the letter again and post the specific reason why the assessment was made.

 

See IRS publication 2210 for information on the penalty for Underpayment of Estimated Tax.

 

https://www.irs.gov/pub/irs-pdf/i2210.pdf

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
Use your Intuit Account to sign in to TurboTax.
By selecting Sign in, you agree to our Terms and acknowledge our Privacy Statement.
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question

Related Content

Manage cookies