I'm using TurboTax Premier Version 24.000.0345 on Windows 10.
We incurred a penalty for underpayment of state income taxes in 2024. I did not make any estimated state income tax payments in 2024. In filling out the required worksheet for underpayment of taxes, TurboTax entered dates in 2024 for estimated payments. The penalty amount is calculated based on the number of days between the estimated payment due date (quarterly) and the date of the actual payment. Our actual payment was made when we filed our taxes in February of 2025, but TurboTax entered dates for each quarter in 2024. As a result our penalty was computed incorrectly.
I have no idea where TurboTax got the inaccurate dates for estimated payments. I did not enter them. Can I be reimbursed by Intuit for the amount by which the penalty was miscalculated, under the "100% Accuracy Guarantee"?
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You have the option to let the IRS or State calculate any underpayment penalty when you complete that section of TurboTax.
Only if your situation meets the terms of the 100% Accurate Calculation Guarantee, Intuit will reimburse the amount actually paid by you to the IRS or state in penalties and/or interest as levied against you in their first notice (i.e., if the notice is not paid, Intuit will not reimburse additional interest and penalties for not paying the first bill timely).
Claims can be filed online here. If you file a 2024 claim and the drop-down menu of years doesn't show 2024 yet, you can choose "2023" and the Accurate Guarantee team will request additional information in order to properly consider your claim.
You have the option to let the IRS or State calculate any underpayment penalty when you complete that section of TurboTax.
Only if your situation meets the terms of the 100% Accurate Calculation Guarantee, Intuit will reimburse the amount actually paid by you to the IRS or state in penalties and/or interest as levied against you in their first notice (i.e., if the notice is not paid, Intuit will not reimburse additional interest and penalties for not paying the first bill timely).
Claims can be filed online here. If you file a 2024 claim and the drop-down menu of years doesn't show 2024 yet, you can choose "2023" and the Accurate Guarantee team will request additional information in order to properly consider your claim.
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