Manual6
Level 2
06-11-2021
06:36 AM
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Good morning, I cannot get Lacerte to calculate interest owed on a 2018 amended return with a balance due. I have entered the filing date and the interest rates in Options. Thank you in advance.
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George4Tacks
Level 15
06-11-2021
06:39 PM
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The program will not do this. You would have to manually calculate. You don't know when IRS will get the return, so you really can't do it with assured accuracy. I always let IRS do the work and bill the client. I let the client know.
Answers are easy. Questions are hard!
BobKamman
Level 15
06-11-2021
07:48 PM
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https://goodcalculators.com/irs-interest-calculator/
If you come within $5 they won't bill you for the difference.
Manual6
Level 2
06-13-2021
05:14 AM
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thank you.
