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IRS sent me my expected refund plus my estimated payment then penalized me for not paying the taxes due?
IRS sent me my expected refund plus my estimated payment then penalized me for not paying the taxes due? This is bizarre. We have a small business and we just now filed our taxes for 2020 but we made an estimated payment of $100,000 on time in April of 2021. Today the IRS send me the refund of $57,460.00 plus our estimated payment of $100,000. Then 4 days later we got an IRS letter saying we owed a $7,000.00 in penalties based on the unpaid taxes f...
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