dr58lj15
Level 2
09-25-2021
08:31 AM
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I filed an extension on time for a client and it was accepted. How do I get rid of the penalty in Pro Series?
Thanks,
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Terry53029
Level 14
09-25-2021
09:31 AM
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An extension is only an extension to file. If your client owes, then that must be paid by the original due date, and if not paid there are late paying, and interest penalties. If client owed $1000 or more then you need to fill out the 2210, and depending on last years tax lability there could be under withholding penalty.
What kind of penalty are you getting
Just-Lisa-Now-
Level 15
09-25-2021
12:22 PM
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sounds like its computing an estimated tax penalty, not a late penalty...IRS would be sending a bill for a late penalty.
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