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Kansas S-Corp Underpayment of Estimated Tax
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tmitch48
Level 1
02-05-2024
02:08 PM
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The K120S form has been updated this year with line 46 "Estimated tax penalty", however; proseries does not appear to have form K-220 included, therefore; no way for the system to compute the penalty if the entity is again electing to be taxed ad the entity level and did not pay proper estimated corporate tax payments. Will this be resolved anytime soon?? It would be really nice if the system could include this so that clients aren't getting estimated tax penalty notices several months after filing when we could simply take care of it when preparing. HELP!
