Amante
Level 2

I have a client that owes Federal tax of which I need to apply penalty and interest before I E-File the return. I am still a novice with the Pro Series Basic and I would appreciate assistance in this matter.

Carol Ann Amante CPA

0 Cheers
Just-Lisa-Now-
Level 15
Level 15

I always just let IRS send a bill.

I know there were issues earlier this summer, that it wouldnt allow a direct debit payment to include the interest and penalty, it would only take the tax due amount...not sure if that ever got addressed.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
IRonMaN
Level 15

I also let the IRS just send a bill later.  Who knows, the IRS may forget to send a billing and your client maybe will safe a couple of bucks.


Slava Ukraini!
Accountant-Man
Level 12

Go to the line with the tax dur and click on the penalty and interest box.

** I'm still a champion... of the world! Even without The Lounge.
Amante
Level 2

Thank-you for your input - I looked at the Underpayment worksheet which I would have to figure out the penalty & interest. So I decided to let the IRS send a letter with the penalty and interest calculated.

Carol Ann