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Tax Penalty Calculation

Home Forums General Discussion 2022 Tax Season Tax Penalty Calculation

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    SC

    Hello,

    I received a refund of $102 on my 2020 federal taxes, but I recently found that I owed $231 to the IRS. So, I am sending a check for $333. Will I face a penalty fee even if I filed before the deadline? How should I calculate the interest amount for the $333 ?
    I plan to add the interest amount to the $333.

    Thank you

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