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Why do I have vouchers connected to my 2019 filing and why do I have a penalty/interest listed on my summary of taxes due for 2018?

Forum|Forum|7 years ago
June 1, 2019
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TurboTax Deluxe Online

Best answer by WillK

If you had a balance due for 2018 that means you did not pay in enough taxes throughout the year and the IRS can and will impose an underpayment penalty. If the balance is owed, Turbo Tax will automatically calculate your estimated quarterly taxes (the additional amount you should pay in during the year so you do not owe again). You do not have to file these estimated taxes if you do not want to.

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WillKAnswer

Employee

If you had a balance due for 2018 that means you did not pay in enough taxes throughout the year and the IRS can and will impose an underpayment penalty. If the balance is owed, Turbo Tax will automatically calculate your estimated quarterly taxes (the additional amount you should pay in during the year so you do not owe again). You do not have to file these estimated taxes if you do not want to.

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