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February 6, 2021
Question

I do not pay estimated taxes but my return says I owe a penalty for late payment???

  • February 6, 2021
  • 1 reply
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Why does is say I owe estimated tax penalty when I don't make estimated payments?

1 reply

Employee
February 6, 2021

If your tax liability is more than last year’s and you owe more than $1,000 you are subject to a penalty for underpayment of tax.