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April 5, 2024
Question

I made California estimated tax payments equaling 100% of my prior year's total tax liability, and yet this year, TTAX says I owe underpayment penalty. Why? How to fix?

  • April 5, 2024
  • 0 replies
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My understanding is by making CA estimated tax payments equaling 100% of my prior year's total tax liability, I will be in "safe harbor" and will NOT be charged underpayment penalty even if I owe CA taxes for this year's return.