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lenw1
Level 2

Can I pay a late charge penalty electronically for filing Federal Taxes late?

 
1 Comment 1
Rasa-LilaM
QuickBooks Team

Can I pay a late charge penalty electronically for filing Federal Taxes late?

Hello there, lenw1.


Thanks for turning to the Community about your federal taxes concern. Let me route you in the right direction on how to rectify the issue.


The option to electronically pay for your late charges in QuickBooks Online (QBO) is unavailable at this time. You’ll have to go to the IRS for assistance in calculating the penalty and interest. Then make a payment through the EFTPS website. 


You can read through this article for more details: Publication 15 from the IRS. It has up-to-date information for employers, including penalties for late tax payments.


After paying your federal taxes (late charge), create an expense to record the interest and penalties. This will separately track payments from your taxes. I’ll help make sure you can do this in just a few clicks.


Here’s how:

 

  1. Click the New icon in the upper right and choose Expense under Vendors.
  2. In the Payee field, select the vendor’s name.
  3. Press the Payment account drop-down and pick which account to input the entry.
  4. In the Payment date box, enter the correct period and specify the payment method for the expense.
  5. Navigate to the Category details section to record the interest and penalties.
  6. In the Category field, select an expense account to track the payments and amount.
  7. Fill in the remaining boxes.
  8. Press the Save and close button.

 

Here’s an article that covers all the details on how the payroll service handles tax penalties for your federal and state taxes: Pay tax payment penalty or interest.

 

Additionally, this link contains resources that will guide you on how efficiently manage all your payroll tasks such as creating paychecks, paying taxes, filing your tax forms, etc: QuickBooks Online self-help resources.


Reach out to me again if you have additional concerns on how to manage late payments for federal taxes. I’m always ready to answer them for you. Enjoy your weekend.

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