Will I incur a tax penalty if I compute my taxes incorrectly when I file?

Will I incur a tax penalty if I compute my taxes incorrectly when I file?
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1 Answer

Answer :

There will be a tax penalty if the error you made resulted in less taxes to be paid to the IRS. If you overpaid as a result of your error, then of course you don't owe any penalty at all. Some tax preparer companies are offering a guarantee to pay for any tax penalties that result from mistake they made when filing your forms.
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