turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Ask the Experts All About the W-4! >> Event happening TOMORROW!
Close icon
Do you have a TurboTax Online account?

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

Why does Turbotax calculate a late penalty for my estimated tax payment when it was paid on the correct date?

According to this post, dated March 21, 2021, on the IRS website...

"Winter storm disaster relief for Louisiana, Oklahoma and Texas

Earlier this year, following the disaster declarations issued by the Federal Emergency Management Agency (FEMA), the IRS announced relief for victims of the February winter storms in Texas, Oklahoma and Louisiana. These states have until June 15, 2021, to file various individual and business tax returns and make tax payments. This extension to May 17 does not affect the June deadline."

https://www.irs.gov/newsroom/tax-day-for-individuals-extended-to-may-17-treasury-irs-extend-filing-a...

 

... the filing date for Texas residents was extended to June 15, 2021 for tax filing and payments.  Why does Turbotax calculate a penalty for my first estimated tax payment when it was paid on June 15, 2021?  It would seem there would be sufficient time for Turbotax to take this issue into account.

 

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 Best answer

Accepted Solutions
BillM223
Expert Alumni

Why does Turbotax calculate a late penalty for my estimated tax payment when it was paid on the correct date?

Are you talking about your 2020 tax return or your 2021 tax return? 

 

This IRS message was for your 2020 tax return.

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

View solution in original post

2 Replies
BillM223
Expert Alumni

Why does Turbotax calculate a late penalty for my estimated tax payment when it was paid on the correct date?

Are you talking about your 2020 tax return or your 2021 tax return? 

 

This IRS message was for your 2020 tax return.

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

Why does Turbotax calculate a late penalty for my estimated tax payment when it was paid on the correct date?

I'm embarrassed to admit that I took a local news story to heart when I heard it and didn't do my own research.

 

Indeed you are correct - this IRS post does pertain to TY 2020 and NOT to my 2021 estimated tax payments.

 

Thank you for clarifying this issue and helping me to see my mistake.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies