I have finished my taxes and the underpayment section shows I have a $194 underpayment.
Per the IRS rules you can avoid an under payment if you paid at least 90% of the tax shown on the return for the taxable year or 100% of the tax shown on the return for the prior year, whichever amount is less. I am below the AGI income requirements and file jointly.
I paid $10K to the IRS in the fourth quarter and my 2025 taxes are $7,524. My 2024 taxes were $9,100.
The Form 2210 could be helpful if I could select Part 2 Box A which would allow Form 2210 to be included with my return but it does not allow me to do that. After I efile I will need to mail the IRS Form 2210 to get a refund for the underpayment penalty. I had to do this for my 2023 & 2024 returns.
I hope Turbo Tax can workout a solution so that preparers will not face that issue every year.
