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

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

jingman
New Member

Why didn't TurboTax pay my underpayment penalty?

I have a $25 penalty, but TurboTax did not pay it.
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.

5 Replies

Why didn't TurboTax pay my underpayment penalty?

The Estimated tax penalty on Line 38 of the Form 1040 is added to the amount of taxes owed or it will reduce the amount of your federal tax refund.

 

TurboTax does not pay for your Estimated Tax Penalty.

 

Go to this IRS website for the Estimated Tax Penalty information -  https://www.irs.gov/payments/underpayment-of-estimated-tax-by-individuals-penalty

DawnC
Employee Tax Expert

Why didn't TurboTax pay my underpayment penalty?

See the instructions for Form 2210.   If the penalty was not included on your tax return, you were not required to figure the penalty.  If you were not required to figure your penalty amount, the IRS will bill you later.   

 

From the IRS:   If you didn't check box B, C, or D in Part II, you don't need to figure the penalty. The IRS will figure any penalty for underpayment of estimated tax and send you a bill. If you file your return by April 15, 2024, no interest will be charged on the penalty if you pay the penalty by the date shown on the bill. If you want us to figure the penalty for you, complete your return as usual. Leave the penalty line on your return blank; don't file Form 2210.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
rk38
Level 2

Why didn't TurboTax pay my underpayment penalty?

On the 1040 line 38 is estimated tax penalty.  This was not added to line 37 the amount owed.  How do I pay the figure in line 38 to the IRS?

Why didn't TurboTax pay my underpayment penalty?

@rk38 The amount on Line 38 of the Form 1040 is included in the amount of taxes owed on Line 37 or reduces the amount the tax refund on Line 35a

rk38
Level 2

Why didn't TurboTax pay my underpayment penalty?

I see the math now.  Thanks.

 

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question