Pam4
Level 2
03-03-2021
10:12 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
How are these deferrals made does IRS send a bill or does the program create a voucher? My client is asking and I can't seem to fine the answer
Best Answer Click here
abctax55
Level 15
03-03-2021
10:43 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
No, it doesn't create a penalty.
The methodology for paying the deferral has not yet been determined by the IRS.
HumanKind... Be Both
Pam4
Level 2
03-03-2021
11:12 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Thanks!!!
abctax55
Level 15
03-03-2021
11:28 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
If I have any clients who want to do this, I'm going to make sure THEY keep track of the fact money will need to be sent 12/2021 & 12/2022. I gave up babysitting as one of my professional services last year 🤣
They are free to contact me later in the year, once the IRS/Intuit comes up with the proper way to send the payment - but THEY have to be proactive about it.
HumanKind... Be Both
