Question

Can I still pay or withhold more taxes for 2022 in 2023?

Forum|Forum|3 years ago
March 3, 2023
1 reply
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I have some underpayment for 2022 because my employer didn't withheld enough taxes from my monthly pay which is incurring a penalty on my 2022 tax return. Can I somehow pay the remaining taxes for 2022 this year to avoid the penalty fee? If not, are there any way to get the penalty waived?

TurboTax Premier Online

VolvoGirl

Employee

No. You just pay the tax due now. Too late to go back and pay more in 2022.

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.

It's under

Federal or Personal (for Home & Business Desktop)

Other Tax Situations

Additional Tax Payments

Underpayment Penalties - Click the Start or update button

If you have the desktop program you can switch to Forms Mode (click forms in the upper right (left for Mac)) and open the 2210 form. If the 2210 doesn't show up in the left column, click on Open Forms at the top of the left column. Type 2210 in the search box and open the 2210 form. Check box C to let the IRS calculate it.