I am having difficulty deciphering how to input an 1040 return whom had an amount due but paid nothing in with their extension and now wants to pay the full balance due including interest when we efile. I can only show the amount due on 7/15 and a 1040 V being sent in for the remaining interest. Any idea to have that full balance paid? Thank you.
Several people have mentioned this in the past few weeks, so it must be an issue.
I guess you could make an electronic payment on IRS DirectPay, it will let you pay any amount youd like.
Personally, I tell clients to just wait until the IRS sends them a bill for the interest. That way you don't need to calculate interest (which is compounded Daily, so it depends on the exact date that the money is received by the IRS).
Just feels inadequate is all, to tell a client to pay this electronically then sit and wait for a bill to be MAILED for the interest. It is 2020 , I mean what is the problem, seems like a easy fix to me to allow clients to remit full amount due. What a letdown.
The issue isn't the penalty and interest calculation . .it's the fact that the automatic withdrawal of balance due will ONLY allow the TAX due, not the tax, plus the penalties and interest . . . . . in prior years (I've used Pro-Series for 17 years), it has always allowed both tax and penalty/interest to be paid. It has an "error" if you enter more than the TAX amount in the e-pay line