taxesbydot
Level 3

Is there a way to have MN calculate the underpayment penalty? Client made only 4th qtr estimate and does owe the penalty but I cannot e-file the MN return with a penalty using ProSeries.

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IRonMaN
Level 15

Yeah, I hate when that happens.  I usually just adjust the prior year tax on the form to get rid of the penalty.  If the state really wants their money, they will send a little love letter.  Just let your client know your game plan so he or she isn't too shocked in the event they receive a notice down the road.


Slava Ukraini!

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TaxGuyBill
Level 15

I do the same thing.   😁

taxesbydot
Level 3

Excellent suggestion. Thank you.

IRonMaN
Level 15

You betcha!


Slava Ukraini!