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Get your taxes done using TurboTax
For what year? For years after 2020 you still have time to file Form 1040-X with Form 2210 and Schedule AI (Form 2210) to annualize income and claim a refund. Tax years prior to 2021 are closed for refund.
Without Form 2210 and Schedule AI (Form 2210), your income is treated as having been received evenly throughout the year, resulting in underpayment of taxes for the first three tax quarters under these circumstances. Filing Schedule AI is needed to treat the income as received when actually received, reducing the required payments for the first three tax quarters.
‎January 1, 2025
11:09 AM