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April 2, 2025
Question

How do I waive under payment penalty due to retirement this year

  • April 2, 2025
  • 1 reply
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April 2, 2025

Congratulations on your retirement. Here is how to request a penalty waiver in TurboTax Online:

 

  1. Navigate to Federal > Other Tax Situations > Additional Tax Payments > Underpayment Penalties > Start or Revisit
  2. Continue through the questions until you arrive at the screen Penalty Waivers, say "yes".
  3. On the next screen, You Can Request a Waiver, say "yes" again.
  4. Next you will be able to choose to waive all or part of your penalty on the screen Do You want to Reduce Your Penalty?
  5. Now, you'll be asked to write a brief explanation explaining why you didn't meet penalty requirements, do so and choose continue.
  6. Choose "Done" on the next screen and you have finished the request.