How do I suspend penalty calculations for underpayment of taxes due to disaster relief?
Entering zero for prior year tax on the 2210 should take care of the issue. Actually isn't that a -1 for Lacerte? 😀
The penalty relief only applies from 9/10/24 to 2/3/25. It is available for the entire state of Louisiana. I (and Lacerte) have calculated penalties on the return, but now the client is getting refunds from the IRS due to overcalculated penalty.
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