sjrcpa
Level 15

If you file the 1040X and pay the balance due, I do not think there will be interest and penalty.

From the 1040X Instructions (imagine that):
Penalty for late payment of tax. If you don’t pay the additional
tax due on Form 1040-X within 21 calendar days from the date
of notice and demand for payment........, the penalty is
usually 1/2 of 1% of the unpaid amount for each month or part of
a month the tax isn’t paid. The penalty can be as much as 25%
of the unpaid amount and applies to any unpaid tax on the
return.

 


Ex-AllStar