1040-US: Late payment penalty is not calculating for clients on extension

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MFA required for electronic filing

Effective May 3rd, the 2017 version of UltraTax CS requires multi-factor authentication (MFA) to transmit e-files from CS Connect. Find out more.

Reg. 301.6651-1(c)(3) states that if the balance due is less than 10 percent of the total tax on the return for taxpayers granted an automatic six-month extension, then the failure to pay penalty is waived.

Related topics: Extension FAQs

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