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
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
- :
- Industry Discussions
- :
- Tax Talk
- :
- How to adjust CA Underpayment Penalty for Q4 Estimated Tax Payment Relief
How to adjust CA Underpayment Penalty for Q4 Estimated Tax Payment Relief
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
david3
Level 7
07-28-2023
03:02 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
How do I adjust the CA Form 5805 underpayment penalty to give the TP relief for the Q4 payment that was due 1/17/23?
They were part-year CA residents in 2021 and full-year CA residents in 2022. They live in the disaster area.
The program is assessing the penalty on 90% of the 2022 tax liability and not the 2021 CA tax liability since they did not file a full year CA return in 2021.
I can't find anywhere in the program a way to waive the Q4 estimated payment penalty. How have those of you CA tax preparers handled this in PS?
Thank you.
Labels
2 Comments 2
ptax255
Level 7
07-29-2023
07:31 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Hi, whats AGI?
david3
Level 7
07-29-2023
12:49 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
$321K.
