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jcm
Visitor I

penalty for not paying taxes per quarter throughout the year

  • You paid a penalty for not paying enough taxes throughout the year. You can avoid that next year by paying quarterly tax estimates on time throughout the year or filling out a new W-4 with your employer where you increase your withholdings.

This is what I saw in the Tips section after I did entered all my stuff in Premier.... What and where do I find that I did pay extra.....Thanks, jcm

2 Comments
TurboTax Specialist

penalty for not paying taxes per quarter throughout the year

Form 2210 is the form used to calculate the penalty. You'll see the amount on line 79 of the 1040.

jcm
Visitor I

penalty for not paying taxes per quarter throughout the year

Thank you Paula..... Now another question if I may.... So, we have to pay a bunch this year and we were penalized some money..... We have the 4 vouchers, if you will, that looks like we need to pay quarterly... Do we have to do that, does the amount have to be exactly or can it be less, can we skip one, can we send them in anytime or does it have to be the exact date on the vouchers, and if we pay more throughout the year, we will get it back when we do our 2018 taxes I suppose? Thank you greatly!! cmrm