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After you file
There is a cap on the amount of penalty and interest that can be applied to an underpaid return. If you really underpaid by $14 than the maximum penalty and interest would not exceed $3.50.
I believe that you underpaid by enough so that the $443.75 was taxes owed plus penalty and interest. In any case the penalty and interest are not tax deductible.
‎June 14, 2024
6:01 PM
12,814 Views