- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Excuse me if this has already been asked. I searched the forums and couldn't find it.
Because of the rains that hit California, both Federal and California estimates were delayed for the first estimate. However, Lacerte is still calculating the penalties using the old method. Is there a box to check to have Lacerte calculate the penalties the right away?
The best thing I could come up with is using the annualized method for 2023 and entering zeroes for the first two estimates and calculating the rest of the estimates normally. That isn't perfect, because the first estimates were delayed past Sept 15, but its close enough. But the main problem in doing that, is that it doesn't help you if you are doing 110% of 2022.
So other than, and just using common sense and eyeballing if there should be penalty and possibly suppressing the penalty, if you believe you handled the estimates correctly, what else can we do with regards to estimated penalties for CA taxpayers in 2023?