Lacerate is calculating underpayment penalty until 4/15 of 2020 but stops after that. Is that correct?

For example if a client files and pays the balance of their return on July 5th the underpayment penalty calculates on the time period from January to April 15, then caps out, and any additional time unpaid (April 16-July 5th) there are no additional penalties accrued. Is this correct?