Question

How to undo the change I made for underpayment of estimated taxes?

Forum|Forum|2 years ago
March 29, 2024
1 reply
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I had a $77 penalty for underpayment of estimated taxes. Now it changed and added more to penalty. How do I return to change that back because I should not have made the selection

TurboTax Deluxe Online

VolvoGirl

Employee

What had you done that changed it? Have you filed yet?

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