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nishjambu
Returning Member

Penalty & Interest are showing as one line in my tax return. How do I know amt for each?

 
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2 Replies
DawnC
Employee Tax Expert

Penalty & Interest are showing as one line in my tax return. How do I know amt for each?

What line are you looking at?    Line 38 shows Estimated Tax Penalty - which is just the penalty.   The interest continues to accrue.   Form 2210 shows the penalty portion details.   

 

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ThomasM125
Employee Tax Expert

Penalty & Interest are showing as one line in my tax return. How do I know amt for each?

Once you file your return the IRS will mail you a notice which will give you the detail of penalty and interest charged.

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