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Get your taxes done using TurboTax
Yes, the IRS is specific about making estimated tax payments evenly through the year. Here is what they mention.
Generally, taxpayers should make estimated tax payments in four equal amounts to avoid a penalty. However, if you receive income unevenly during the year, you may be able to vary the amounts of the payments to avoid or lower the penalty by using the annualized installment method. Use Form 2210, Underpayment of Estimated Tax by Individuals, Estates, and Trusts to see if you owe a penalty for underpaying your estimated tax. You can utilize the installment method in Turbo Tax.
The law allows the IRS to waive the penalty if:
- You didn't make a required payment because of a casualty event, disaster, or other unusual circumstance and it would be inequitable to impose the penalty, or
- You retired (after reaching age 62) or became disabled during the tax year or in the preceding tax year for which you should have made estimated payments, and the underpayment was due to reasonable cause and not willful neglect.
There is no option to delete page 2. It is part of form 2210 to be sent to he IRS even though there may be blank entries on page 2.
Topic 306-Estimated Tax Penalties
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