Is there an online calculator that we can use for the late filing penalty of Form 941 and late payment penalty and interest of quarterly payroll tax. I have a client who is filing late and I want to make him pay the interest and penalty together with the payroll tax so he will not receive a bill for it later.
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I believe TValue sells a product that calculates penalty & interest for 941's. I don't think it's an online product, tho. -
Try this one.
It costs but I've used it before with good results.
In other words, a democratic government is the only one in which those who vote for a tax can escape the obligation to pay it.
Alexis de TocquevilleComment
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I think Questionguy is looking for an online calculator which is 'free'. And I also think the answer is 'none'. A penalty calculator is too specialized a software product that no one would invest the money to develop one and then give it out for free. Just my opinion.Comment
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You can always calculate the rough amount, add a little for timing differences, and use that as your general estimate of the amount due. Have the client pay that amount and tell them they will either get a small refund after it's processed or they may get a bill for a few extra dollars of interest & penalty.
Why put yourself on the hook for an exact figure when it can't be precisely known? You don't know exactly what day the IRS will actually process the return."The only function of economic forecasting is to make astrology look respectful" - John Kenneth GalbraithComment
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