Why does Turbotax not calculate penalty and interest as described here - https://ttlc.intuit.com/turbotax-support/en-us/help-article/taxation/irs-penalty-miss-april-18-filin... ?
I misunderstood Turbotax output of No "Underpayment Penalties" under "Other Tax Situations" which pertains to penalty for estimated taxes as also including penalty and interest for taxes owed after April 15. Had turbotax provided me the amount as described in link above I could have paid. Hence my question.
Only the IRS can calculate the penalty and interest for failure to pay after April 15 and only after they receive your tax return.
Read the link you provided here more carefully. Do you see -- for one thing-- that the interest is compounded daily? TurboTax never knows how, when or even if you pay your tax due, so TT is not going to calculate your interest when you are late. Only the IRS does that, based on when they receive your late tax return and your late payment of the tax due as shown on the Form 1040.