The penalty for failure tomake payment of quarterly estimated income taxes is computed without any daily compounding and is not deductible.

Name: The penalty for failure tomake payment of quarterly estimated income taxes is computed without any daily compounding and is not deductible.
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The penalty for failing to make payment of quarterly estimated income taxes is calculated using a non-compounded rate set by the IRS and is not deductible for tax purposes.

The Penalty for Failure Tomake Payment of Quarterly Estimated Income