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How to pay the federal interest penalty.

Forum|Forum|4 years ago
October 13, 2021
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I filed for an extension on federal and state. I'm now filing my taxes and paying the balance owed (which is fairly large) on federal state.

Question is how do I pay the interest? Will IRS and California send me a bill after I file or do I need to calculate manually the interest on the balance and send along with my tax filing?

TurboTax Home & Biz Windows

Best answer by DoninGA

The IRS and the State will send you a bill in the mail for any penalties and interest owed after they receive the tax returns and your payment.

DoninGAAnswer

Employee

The IRS and the State will send you a bill in the mail for any penalties and interest owed after they receive the tax returns and your payment.

H

HL2024

Can I pay by bank account check routing number if I file by the extension date (Oct 15) and E-file to pay income tax with interest (penalties)?

M

Mike9241

you can use Direct Pay and the reason is balance due. most likely you will not compute the penalty correctly which means you'll either get a refund or a bill.