Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
In anticipation of the upcoming May 15th deadline, we've compiled a list of the most common questions here.
In anticipation of the upcoming May 15th deadline, we've compiled a list of the most common questions here.
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- ProSeries Tax
- :
- ProSeries Tax Discussions
- :
- Form 1041 late filing penalty and interest
Form 1041 late filing penalty and interest
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
Dave Kropp
Level 3
05-18-2022
02:21 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Does Form 1041 calculate the late penalties and interest like the 1040? If not, why not?
From IRS instructions - just like the 1040.
If you include interest on either of these penalties with your payment, identify and enter these amounts in the bottom margin of Form 1041, page 1.
Labels
1 Comment 1
IRonMaN
Level 15
05-18-2022
03:30 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Why have the client pay the late penalties? Maybe the IRS will have mercy and not charge them penalties and interest. It's a COVID world so maybe the IRS has mellowed a wee bit.
Slava Ukraini!
