Skip to main content
TurboTax
Community
TurboTax
Community
TurboTax
Community
G
Godwin
January 16, 2024
Question

Penalty for not withholding enough tax all year

  • January 16, 2024
  • 1 reply
  • 0 views
No text available

1 reply

DoninGA
DoninGA
Employee
January 16, 2024

Go to this IRS website for the underpayment penalty - https://www.irs.gov/taxtopics/tc306

 

To annualize your tax payments to reduce or eliminate the underpayment penalty - 

Click on Federal on the left side of the online program screen

Click on Other Tax Situations

Scroll down to Additional Tax Payments

On Underpayment Penalties, click on the start button

G
GodwinAuthor
January 16, 2024

Thanks for the quick reply. 

Last year, i did receive the refund and nothing due from my side.

So wondering why still got this penalty.

AmyC
AmyC
Employee
January 17, 2024

It is possible to get a refund and still have a penalty. See here. Learn more about penalties and when they are charged here. If you would like to reply with more information, we can better answer your concern.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"
TurboTax Sign In Widget
TurboTax flag icon

Unlock tailored help options in your account

Create an account
TurboTax Expert Assist
TurboTax Expert

Get answers to all your tax questions

Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

Terms & ConditionsAccessibility statement
Intuit
TurboTax Credit Karma QuickBooks MailChimp

©1997-2022 Intuit, Inc. All rights reserved.
Intuit, QuickBooks, QB, TurboTax, ProConnect, and Mint are registered trademarks
of Intuit Inc. Terms and conditions, features, support, pricing, and service options
subject to change without notice.

Security Certification of the TurboTax Online application has been performed by
C-Level Security.

By accessing and using this page you agree to the Terms of Use.

Accessibility

TRUSTe nResult Certified e-File C-Level Security Certification