Why am I receiving a penalty of $24 for "underpayment of your estimated taxes"? I didn't expect to make any "estimated tax payments" in 2024.

[d-nicewander]

what could cause a underpayment penalty?

[VolvoGirl]

It could be for not paying in evenly during the year or owing too much.  I once got a penalty even when I had a refund.

If you get a penalty on 1040 line 38, you might be able to eliminate it or at least reduce it. You can go to Federal Taxes tab or Personal tab, under Other Tax Situations and select Start by the Underpayment Penalties. You will answer a series of questions that may reduce or eliminate the penalty. Or you can elect to have the IRS figure the penalty for you. It's form 2210.

How to add form 2210 for Underpayment Penalty
https://ttlc.intuit.com/community/tax-payments/help/how-do-i-add-form-2210/00/25703

It's under

Federal or Personal (for Home & Business Desktop)

Other Tax Situations

Additional Tax Payments

Underpayment Penalties - Click the Start or update button

[ThomasM125]

That can be caused by not paying in the required amount of tax on quarterly basis. In general, you are required to pay in 100% of your previous year tax liability or 90% of your current year liability on a quarterly basis, or face a penalty for late payment of tax.

If your income was sporadic during the year, you may be able to reduce the penalty by using the Underpayment penalties routine in TurboTax you will find under Additional tax payments in the Other Tax Situations section.