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R
rebekahb1031
April 8, 2025
Question

Why am a being accessed a late payment penalty by turbo tax on my 2024 return but I've never made a late payment and my IRS account is at $0?

  • April 8, 2025
  • 1 reply
  • 0 views
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1 reply

M
MAK70
April 8, 2025

You must be referring to the Penalty for Underpayment of Estimated taxes because late fees do not apply until the due date of the tax return.  For underpayment penalties, you may owe if you do not make quarterly payments, even if you have no tax due.  

See How to Avoid Underpayment Penalty - The TurboTax Blog - Intuit. 

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