Penalty Calculator Interest Calculator

Taxpayer Type	Individual C-Corporation S-Corporation Limited Liablility Company Partnership Trust
Tax Year	2012201120102009200820072006200520042003   Extension
Return Due Date
Tax Due Date

Hover over input areas to display an explanation of its purpose. Select the entity type to arrange the input boxes into the appropriate order. Choose the tax year to automatically set the return and tax due date fields. Check the extension to automatically increase the return due date by six months. The return due date starts the failure to file penalty and interest on the failure to file penalty. The tax due date starts the failure to pay penalty and interest on tax owed. The date return submitted lets the calculator know when to stop calculating the failure to file penalty. The amount due per return determines the amount of penalties and interest, which are both a percentage of any underpayment. The demand letter date starts the computation of interest on the failure to pay penalty. The notice of intent to levy date is used to determine when to increase the failure to file and show penalties. The payoff date is used to determine when to stop calculating penalties and interest. Click open the payment and credit section to allow you to input payments and credis. Check the Installment Agreement box if you setup a formal monthly payment plan with the IRS. This is the date to start applying credits to the computation. This is the amount of credits to apply. This is the date to begin reducing the failure to pay and show penalties. This is the date to end reducing the failure to pay and show penalties. The reset button resets the calculator. Click to compute IRS penalties and interest. The IRS adjustment demand date is used to start calculating the failure to show penalty. The IRS adjustment amount is used to determine the amount of the failure to show penalty. The first appeal rights letter date is used to determine when to start calculating hot interest (additional 2%), when the amount of tax exceeds 100k. The number of partners, shareholders, or members, is multiplied by the penalty rate to compute the failure to file penalty.

Date Return Submitted
Amount Due Per Return No. of Partners
Demand Letter Date	--Not Required--
IRS Adjustments	Notice Date --Not Required-- Amount --Not Required--
First Appeal Rights Letter Date	--Not Required--
Notice of Intent to Levy Date	--Not Required--
Payoff Date

Click to Enter Payments and Credits

Date of Credit:		Amount of Credit:
Use to add or remove credit rows:   - +

	Installment Agreement(s)
Reset	Calculate

Disclaimer: This IRS penalty and interest calculator can be used by tax attorneys, accountants or CPAs, and individuals or businesses to provide estimates for the failure to file, failure to pay, and failure to show penalties. The provided calculations do not constitute financial, tax, or legal advice. Indig Enterprises, Inc. makes no guarantee about the accuracy or correctness of this tax penalty calculator.