Different treatment for underpayment penalty and waiver
I see that IRS has recently waived penalty if the at least 80% of the tax has been paid. But interestingly, if this is not the case, TurboTax and form 2210 levy a penalty of 3.6% on the difference between 90% of the tax owed and the prepaid tax. Is this not unfair? Should the penalty not be treated similar to waiver and assessed on the difference of 80% of the tax owed and prepaid taxes? Please help!
Different treatment for underpayment penalty and waiver
The changes to Form 2210, Underpayment of Estimated Tax by Individuals, Estates and Trusts, are scheduled to be updated in a release currently planned for March 29, 2019.
Different treatment for underpayment penalty and waiver
The changes to Form 2210, Underpayment of Estimated Tax by Individuals, Estates and Trusts, are scheduled to be updated in a release currently planned for March 29, 2019.
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