Is the way to get P&I automatically calculated & added to the return just by selecting "when applicable" in Settings & also on tab 8 "Penalties & Interest"?

Forum|Forum|3 years ago
May 1, 2023
1 reply
8 views

I want to pay all taxes, penalties and interest when I file the return and not wait for the IRS to bill me.

Lacerte Tax

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Best answer by amorgan

On Screen 8 under "Late Return Penalty & Interest" you will need to put a "1" for the interest and penalties that you want Lacerte to add to the amount due. You will also need to make sure that you have the correct interest rates in your Lacerte settings so that it calculates properly. You need to put a filing date on Screen 8 as well. The late payment penalty and interest will be included on the statements and added to the 1040-V.

A

amorganAnswer

Level 2

On Screen 8 under "Late Return Penalty & Interest" you will need to put a "1" for the interest and penalties that you want Lacerte to add to the amount due. You will also need to make sure that you have the correct interest rates in your Lacerte settings so that it calculates properly. You need to put a filing date on Screen 8 as well. The late payment penalty and interest will be included on the statements and added to the 1040-V.

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