Question

Paying the penalty for inadequate withholding

Forum|Forum|2 years ago
April 13, 2024
1 reply
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Turbo Tax calculated the estimated fee I would need to pay for not withholding enough $. However, did not tell me how to pay. E-pay only took the remaining tax and the 2210 form, but not the $ needed to pay the penalty. What do I do?

DoninGA

Employee

The estimated tax penalty on the Form 1040 Line 38 is included in the amount of federal taxes owed on Line 37. If you paid the federal taxes owed then the estimated tax penalty has also been paid.

S

swyoung721Author

OK--thanks. On the 1040 it is not obvious because the penalty is listed after the tax payment due with no total after that. Had to go back and check intital tax payment due and then check final number. Result confirmed your statement. Thanks again