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jerry12
Level 1

Filing 2210 w/amended return.

I had previously filed my 2019 return and have received my refund, but it included a penalty for underpayment.  Subsequently I've found a small dividend that I'd received and reported to the IRS which I missed when filing the original return.   So I'm in the process of filing an amended return to acknowledge/report this.  I had also gathered-up all my income/expenses per quarter and completed form 2210, which now states that I'm not subject to a late payment penalty.  The net of what I still owe for the missed dividend coupled with a refund for the previously paid payment penalty would be in my favor and I should receive an additional refund.   However, even though the form 2210 in the amended return shows no penalty, I still owe a small payment related to the missed dividend.  It's as though it didn't take into consideration the penalty payment in the original return.   How should I handle this?

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Accepted Solutions
ThomasM125
Employee Tax Expert

Filing 2210 w/amended return.

The penalty is not a part of your tax calculation, it simply gets added to the tax that you owe. Since the amended return only accounts for your tax and payments and credits against the tax, it does not address the penalty situation.

 

However, if you include the form 2210 with your amended return along with a note to refund your penalty, the IRS should reduce your payment due by the amount of the penalty. So, just write a letter explaining what you are doing and mail the amended return without a payment and the IRS should process a refund for you.

 

 

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1 Reply
ThomasM125
Employee Tax Expert

Filing 2210 w/amended return.

The penalty is not a part of your tax calculation, it simply gets added to the tax that you owe. Since the amended return only accounts for your tax and payments and credits against the tax, it does not address the penalty situation.

 

However, if you include the form 2210 with your amended return along with a note to refund your penalty, the IRS should reduce your payment due by the amount of the penalty. So, just write a letter explaining what you are doing and mail the amended return without a payment and the IRS should process a refund for you.

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

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