Since the penalty does not show up on a schedule on your tax return, there is no way to reflect it on the amended return. In essence the penalty you pay is an estimated amount added on to your tax to compensate for the penalty the IRS will assess when they process the return, sort of like an estimated tax payment. When the IRS processes the amended return they may refund the penalty assessed based on the corrected amount listed on the amended return, but it may take them some time to notify you of that.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
