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Level 3
May 13, 2025

1041 estimate tax penalties tax year 2024

  • May 13, 2025
  • 1 reply
  • 8 views

Has anyone been receiving what appears to be incorrect underpayment of estimated tax penalty letters on Forms 1041 for tax year 2024?  We are on about our 6th one.

    1 reply

    sjrcpa
    Level 15
    May 13, 2025

    Yes, it's a thing now. Several reports on another forum I frequent. Supposedly IRS is aware of their error.

    The more I know the more I don’t know.
    EmmabobAuthor
    Level 3
    May 13, 2025

    Managed to get ahold of an agent today who said the same thing.  She found out about it yesterday.  Had 3 more notices sent to me today.   Said file Form 843 to deal with the problem for now.