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Level 2
May 21, 2025
Question

disaster penalty relief

  • May 21, 2025
  • 1 reply
  • 7 views

How do I suspend penalty calculations for underpayment of taxes due to disaster relief?

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1 reply

IRonMaN
Level 15
May 21, 2025

Entering zero for prior year tax on the 2210 should take care of the issue.  Actually isn't that a -1 for Lacerte?  😀

Slava Ukraini!
Level 2
May 21, 2025

The penalty relief only applies from 9/10/24 to 2/3/25.  It is available for the entire state of Louisiana.  I (and Lacerte) have calculated penalties on the return, but now the client is getting refunds from the IRS due to overcalculated penalty.