No Interest & Penalties Calculations for State Returns?

[DENNYCARR]

Where do I elect to have ProSeries Professional automatically calculate late payment penalties and interest for state returns?

Or are my options to either manually calculate state interest & penalties or wait for the client to receive a letter for state interest & penalties after filing?

[TaxGuyBill · Accepted solution]

I doubt if ProSeries does that.  ProSeries is only mid-level software, and it is unlikely they will ever add a calculation for penalties/interest for states (it even needs some manual input for Federal interest).

That means yes, you need to either do it manually or have the state send the client a notice.  Personally, I just give the client a super-rough estimate and tell them the IRS and State will send a bill for the exact amount.

[DENNYCARR]

ah, ok - what software do you put above mid-level?

[BobKamman]

If clients can afford to pay penalty and interest, they can afford to pay you for five additional minutes of work.  Or maybe two minutes if this website works (I haven't tried it). 

https://www.irscalculators.com/interest-calculator