Greg7
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See Dawn's explanation above. TT does not have the programming done yet to calculate underpayments. That programming should be done later in February.
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Thanks Dawn, that explains it. I wasn't aware of the availability chart. That sounds like a good thing to check.Cheers,Greg
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Yes, the payments I made were calculated by TT to avoid any tax penalty regardless of how much I owed at tax time. However, since I didn't pay the 4Q payment, t...
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Hi Leonard, you are certainly correct, but that is not the case here. I have a quarterly tax liability of 16,000/4 or 4,000 per quarter.Q1 cuml tax liability 4,...
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Hi Mike, thanks for the quick reply. The quarterly payment dates and amounts are entered correctly and TT is picking them up correctly. I looked at Form 2210, w...
Activity Feed for Greg7
- Posted Re: Underpayment Penalties on Deductions & credits. February 4, 2022 2:30 PM
- Posted Re: Underpayment Penalties on Deductions & credits. February 2, 2022 3:03 PM
- Cheered Re: Underpayment Penalties for Mike9241. February 2, 2022 3:03 PM
- Cheered Re: Underpayment Penalties for DawnC. February 2, 2022 3:01 PM
- Posted Re: Underpayment Penalties on Deductions & credits. February 2, 2022 2:29 PM
- Cheered Re: Underpayment Penalties for LeonardS. February 2, 2022 2:22 PM
- Posted Re: Underpayment Penalties on Deductions & credits. February 2, 2022 1:31 PM
- Posted Re: Underpayment Penalties on Deductions & credits. February 2, 2022 1:25 PM
- Posted Underpayment Penalties on Deductions & credits. February 2, 2022 12:52 PM
- Posted Thank you for pointing me in the right direction. Actual... on Retirement tax questions. June 6, 2019 8:47 AM
- Posted Can I contribute excess insurance compensation to IRA? on Retirement tax questions. June 6, 2019 8:47 AM
- Posted Can Roth IRA Over contribution in 2016 be corrected in early 2018 before filing date? on Retirement tax questions. June 4, 2019 3:52 PM