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Corp underpayment penalty
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KRS1
Level 2
12-14-2020
09:33 PM
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The Corp return for fiscal year filers with a Year end of 8/31/20 does not properly calculate the late payment penalty for estimated tax payment on the Federal and WI tax returns. The 3rd quarter payment does not appear to be flowing the IRS Schedule 2220 and WI Sch U. Therefore, late payment interest is calculated, but does not belong there. It appears to be an issue just for the 3rd quarter column for both fed and state.
Can you fix? It's been an issue for at least 3 years.
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