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posted Jun 1, 2019 6:07:38 PM

TurboTax said no underpayment fees were due for my 2018 Fed taxes. Then I got a $159.68 failure-to-pay proper estimated tax CP14. Who's wrong:TurboTax or the IRS?

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1 Replies
Level 15
Jun 1, 2019 6:07:39 PM

Ok ... the underpayment penalty in the TT program was based on the info you entered in the program and the failure to pay penalty the IRS computes is based on the info they know  and  the date you actually pay the balance due ... TT cannot compute this accurately.