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Why is their a penalty on 1040 form?

feehannj
Level 1
 
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8 Comments 8
sjrcpa
Level 15

Underpayment of estimated tax?

Premature distribution from IRA/pension?

What type of penalty?


Ex-AllStar
Just-Lisa-Now-
Level 15
Level 15

Thats a question a professional preparer should be able to answer by reviewing the return.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
George4Tacks
Level 15

Probably because it should be there.

https://proconnect.intuit.com/community/proseries-discussions/discussion/should-their-be-a-penalty-o...

https://proconnect.intuit.com/community/proseries-discussions/discussion/should-their-be-penalty-on-...

If you want a REAL answer, share more information as to what flavor the penalty is. 

 


Here's wishing you many Happy Returns
IRonMaN
Level 15

You keep asking basically the same question, but never provide any details.  You have two choices right now:

1.  Provide more details

or

2.  Quit asking the question


Slava Ukraini!
abctax55
Level 15

In my practice "their" is never a penalty of any kind.

"*******Tax software is no substitute for a professional tax preparer*******
( Generic Comment )"
IRonMaN
Level 15

I wonder if we have made the jump from Tax Slayer. 😀


Slava Ukraini!
Accountant-Man
Level 12

Is their WHAT a penalty? Is their hair a penalty for bad looks?

Is their nasally voice a penalty for being annoying?

WHAT?

** I'm still a champion... of the world! Even without The Lounge.
abctax55
Level 15

HEY... no hair comments please.  I have (normally) short hair but the quarantine has me thinking I might grow it out for the first time in decades; the transition is not my most attractive look.

 Troll.jpg 

This weekend's project is to cut my husband's hair.  I'm not sure I could ever get soooo desperate as to let him cut mine.

 

"*******Tax software is no substitute for a professional tax preparer*******
( Generic Comment )"