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skgroup
Level 1
March 13, 2022
Question

Underpayment penalty

  • March 13, 2022
  • 1 reply
  • 10 views

I paid underpayment penalty in year 2021 for tax year 2020.

Is this a deductible expense?

Thank you

Subhash S. Kithany

 

This topic has been closed for replies.

1 reply

sjrcpa
sjrcpa
Level 15
March 13, 2022

No. Penalties are not deductible.

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