In TurboTax, when you get to the question about Penalty Waivers, which includes disaster declarations, answer Yes. Answer Yes to whether you want to request a penalty waiver. TurboTax provides an entry field for an explanation to be included in your tax return as to why you qualify for a waiver of the penalty.
Yes, if you enter the explanation in Penalty Waivers, it will be included in your tax return.
Make sure you are referencing the correct IRS Memorandum. As noted before, IRS Memorandum 2024-10 refers to Hurricane Milton that began on Oct. 5, 2024 and provides relief for return filings or payments due on or after Oct. 5, 2024 and before May 1, 2025 and extends the time for filing and payment to May 1, 2025.
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