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New Member
posted Nov 6, 2019 10:38:31 AM

Turbo Tax calculation of the late filing penalty was wrong

Is Turbo Tax responsible for the additional penalty and interest on a return filed late when Turbo Tax calculated it and according to the state it is incorrect?

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1 Replies
Level 15
Nov 6, 2019 10:45:40 AM

A failure to file penalty cannot be calculated by the TurboTax software. 

The penalty is assessed by the tax authority after they have received the tax return and the taxes owed have been paid.  The tax authority then sends the taxpayer a bill in the mail for any penalties and interest.