Penalties/Interest

Forum|Forum|2 years ago
April 30, 2024
3 replies
12 views

A number of clients have received IRS notice CP30A. The penalty for failure to pay sufficient quarterly vouchers has been recalculated. Generally a small refund is owed to the taxpayer. Is the calculation on ProSeries Form 2210 incorrect?

ProSeries Professional

This topic has been closed for replies.

BobKamman

Level 15

The 2210 calculation assumes that April 15 will be the payment date. You can change that if you know the client will pay sooner. It's likely that those receiving the notice now, filed their returns in March and that reduced the penalty.

PATAX

Level 12

I believe that what Bob said is 100% correct. I was just talking about this with a good friend and colleague and he said exactly what Bob said. So markdown Bob's comment as the solution because that is what I believe it is.

Just-Lisa-Now-

Intuit Community Champion

Are they CA residents? The first 3 estimates for 2023 werent due until October last year, but Im not sure our software is computing for that, so Im guessing CA residents would be seeing this correction.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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