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Get your taxes done using TurboTax
To be clear...there is NO legal requirement for a tax filer to include a form 2210 in your return, hence the work around setting 2017 income to zero is not violating any law and you are not willfully filing a false return. The purpose of the 2210 is to proactively request the IRS to compute any underpayment penalty for your to potentially include that penalty on your return. Trust me, if the IRS determines you have under-withheld/under-estimated your taxes they will send you a bill for the interest penaly due...which BTW is not a tax, but a penalty. In my case TT was incorrectly determining that a 2210 needed to be completed...but I was getting a refund and had both withholding and estimated taxes well within the parameters of what is acceptable...and on top of that TT error checking did not catch this problem and every time the return was submitted is was rejected...
Now if you are in a situation where you know you owe $5K in taxes but have made no estimated payments or had any tax withheld then I would wait for the fix from TT just to be safe since you DO owe penalties...but as I said, even without the 2210 the IRS will determine you penalties all by themselves.
Now if you are in a situation where you know you owe $5K in taxes but have made no estimated payments or had any tax withheld then I would wait for the fix from TT just to be safe since you DO owe penalties...but as I said, even without the 2210 the IRS will determine you penalties all by themselves.
‎June 6, 2019
7:27 AM