Question
How to set up IRS Interest rates missing on Tools menu
2024 Pro Series Professional calculates these amounts on the Late Penalties and Interest Worksheet in the client's federal return.
To get these amounts to calculate:
- From within a client's 1040 return:
- From the Tools menu select Options.
- Select Miscellaneous from the left side of the screen.
- Scroll down to IRS Interest Rates for Underpayment of Taxes.
- Enter the current interest rates.
- These rates will flow to the Late Penalties and Interest Worksheet.
The problem is that on the Options, Miscellaneous is missing from the selection. There is no selection to set up the IRS & State interest rates for underpayment.
