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late payment interest on an amended return

Manual6
Level 2

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

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!

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3 Comments 3
George4Tacks
Level 15

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

https://goodcalculators.com/irs-interest-calculator/

 

If you come within $5 they won't bill you for the difference.

Manual6
Level 2

thank you.

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