If you don't wish to use the annualization method in the Underpayment Penalty section, don't meet any exceptions to the penalty, and don't wish to ask the IRS to waive the penalty, you can choose to let the IRS calculate the penalty. If you have already populated Form 2210, you can delete it.
Here's the procedure for deleting unwanted forms, schedules, and worksheets in TurboTax Online:
- Open or continue your return in TurboTax.
- In the left menu, select "Tax Tools" and then "Tools".
- In the pop-up window Tool Center, select "Delete a form".
- Select "Delete" next to the form you wish to delete. In this case, look for Form 2555 (foreign income) or any other form relating to foreign accounts, and follow the instructions.
If the IRS charges you a penalty and you don't agree with their calculation, you will have the opportunity to respond.
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