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Level 1
June 20, 2022
Question

Lacerte doesn't seem to be calculating a late penalty for MT. Is this correct?

  • June 20, 2022
  • 2 replies
  • 10 views
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2 replies

qbteachmt
Level 15
June 20, 2022

Which tax year and entity are you filing? This is only mid-June, and isn't after the automatic extended due date. If it applies, please note that the Form 2 instructions tell you, "Caution: The calculation of penalties and interest you report on your return is an approximation. The department will recalculate this amount and adjust penalties and interest if necessary. This adjustment may result in more or less penalties and interest owed."

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sjrcpa
Level 15
June 20, 2022

Did you enter a date return is/will be filed?

A late payment penalty only applies if money is owed. Late filing does not apply if the return was extended.

 

 

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