MonikaK1
Expert Alumni

Get your taxes done using TurboTax

As stated in my previous reply, penalties and associated interest are calculated by TurboTax but will get waived (eliminated) as long as the new, post-disaster dates are met. The tax agencies - both the IRS and the California Franchise Tax Board - have promised penalty relief for those who qualify, but this was an administrative decision and does not change the law. This is why the penalties still get calculated - the tax software companies still have to follow the law.

 

If you get a notice from the IRS proposing to assess the penalty, see this IRS webpage for guidelines and next steps.

 

The Franchise Tax Board's website states that, if you are an affected taxpayer who received a bill for a late filing penalty or late payment penalty relating to a due date that fell between December 27, 2022, and November 16, 2023, and you timely filed your return and paid your tax by November 16, 2023, you should contact FTB to have the penalty abated.

 

 

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