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J
jcinsd
April 8, 2025
Question

I am paying on time, why is there a interest and penalty fee added to the filing before I even file?

  • April 8, 2025
  • 1 reply
  • 0 views
No text available

    1 reply

    S
    SabrinaD2
    April 8, 2025

    The IRS levies underpayment penalties if you don't withhold or pay enough tax on income received during each quarter. Even if you paid your tax bill in full by the April deadline or are getting a refund, you may still get an underpayment penalty.

    To possibly reduce or eliminate your underpayment penalty:

    1. Open or continue your return.
    2. Navigate to the underpayment penalty section:
      • TurboTax Online/Mobile: Go to annualizing your tax.
      • TurboTax Desktop: Select Search Topics. Search for and select annualizing your tax.
    3. We'll take you through the steps to possibly reduce what you owe.
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