George4Tacks
Level 15
Tuesday
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Is this how you set up the penalty computation?
Did you then click the next "tab" for State & Local Int. Rates and enter the UT rates? .
To generate interest and penalty amounts for a late return:
- Go to the Input Return tab.
- On the left-side menu, select Payments, Penalties & Extensions.
- Click on Penalties and Interest (2210).
- Enter the date this return will be filed in the Filing date field.
- On the top navigation menu, select Late Return Penalty & Interest.
- Enter 1 in the Interest (1=automatic), Late filing of return (1=automatic), and Late payment of tax (1=automatic) fields
- The federal interest rates are built into the program.
- If state interest rates are needed, select State & Local Int. Rates across the top and enter the applicable interest rates.
Answers are easy. Questions are hard!