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Level 1
posted Feb 8, 2022 1:53:23 PM

Can late fee for fed tax for 2020 be used in 2021?

Payment to federal tax was late due to incorrect bank number and I had to pay penalty fee. Can I deduct this amount on 2021 tax form?

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1 Best answer
Expert Alumni
Feb 8, 2022 2:01:09 PM

No, neither Federal tax paid nor penalties are deductible.

1 Replies
Expert Alumni
Feb 8, 2022 2:01:09 PM

No, neither Federal tax paid nor penalties are deductible.