Penalty for late filing

[trberkovich]

My son just filed his 2021 tax return.  The IRS should receive the return on June 30, 2023.  TurboTax advised me to let the IRS compute the penalty and interest.   I would have preferred to include the penalty and interest in the mailing.  Can you estimate the penalty and interest or provide a contact (ohter than the IRS) to compute the amount due.  If yes, how can I pay the penalty and interest now since the return has been mailed?

Tom B

[Cindy4]

Hi @trberkovich !

It's best to let the IRS calculate the penalty and interest due to timing of their receipt of the tax return.  Even if you attempt to calculate it, there is usually a small difference and they will still send you an automated letter with a penalty and interest calculation.

You could estimate it and to to https://www.irs.gov/payments/direct-pay to pay it.

This article contains links use to calculate your penalty and interest:

https://www.irs.gov/payments/interest

Hope this helps!

Cindy

[JohnJ4]

As the 2021 tax return was filed late ,  the IRS will send you a penalty notice based on the date the return was received.   I recommend you wait until the IRS notice is received and pay the correct  penalty amount to avoid additional notices and send your payment by certified mail.