Penalties and interest after 2 years

UltraTax CS only calculates penalties for 2 years after the tax year of the return. For example, a return prepared in UltraTax CS 2021 can calculate penalties through 2023.
After 2 years, you need to either calculate penalties manually or file the return without penalties and allow the IRS to send a bill.
You can only add or update interest rates for the years and quarters that are listed under
Setup
, then the return type, then the
Federal
tab. UltraTax CS will update those interest rates automatically.

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