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March 20, 2023
Question

I received an adjustment to my filed state tax return..it was because of an underpayment of interest..did I do something wrong when I filed..I do not hv a w2 for state..

  • March 20, 2023
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1 reply

March 20, 2023

If you were assessed an interest penalty due to an underpayment of state income taxes, that means you did not pay the appropriate amount of state income tax, in each quarter, in relation to the amount of income you earned in each quarter. 

  • You may want to analyze if you need to pay estimated state income taxes. 

Please contact your state to see how your state calculates an interest penalty. 

 

 

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