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C
ceapea
April 5, 2025
Question

Why wasn't I informed about an underpayment penalty until now?

  • April 5, 2025
  • 1 reply
  • 0 views
Who do I contact to find more information about being charged an underpayment penalty?

    1 reply

    DawnC
    DawnC
    Employee
    April 5, 2025

    Did you receive a notice from the IRS or state or did TurboTax notify you while preparing your return?  

     

    The IRS levies underpayment penalties if you don't withhold or pay enough tax on income received during each quarter. Even if you paid your tax bill in full by the April deadline or are getting a refund, you may still get an underpayment penalty.  

     

     

    Click the link below to see ways to reduce or eliminate the penalty.  

    Why am I getting an underpayment penalty if I'm getting a refund?  

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