Yes, you can file your return without using the annualized income method. If your income was relatively stable throughout the year, or if your income was greater in the beginning of the year, then this method will not help you. If necessary you can delete this form from your file.
- If you're using TurboTax Online software and need to delete a form, click here.
- If you're using TurboTax CD\Download software and need to delete a form, click here.
Here are the exceptions to the penalty (Form 2210 Instructions:( Who Must Pay the Underpayment Penalty
Exceptions to the Penalty: You won't have to pay the penalty or file this form if either of the following applies.
- You had no tax liability for 2021, you were a U.S. citizen or resident alien for the entire year (or an estate of a domestic decedent or a domestic trust), and your 2021 tax return was (or would have been had you been required to file) for a full 12 months.
- The total tax shown on your 2022 return minus the amount of tax you paid through withholding is less than $1,000. To determine whether the total tax is less than $1,000, complete Part I, lines 1 through 7.
- What is Form 2210?
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