#8 I use H&R Block...
Is the penalty of 8% per year?
What if say last few years it was 3% and you did not pay, would they calculate the whole amount at 8% or 3% for the past years and then 8% for current year?
3% of amount + 3% of amount + 8% amount.
Just ah... asking.
My best guess is if you are behind in payments, IRS would probably sock it to you at 8%. But I have no clue how IRS would tackle it.
I am surprised HRB software made an error in computing my penalty.