topic What is 2020 federal tax liability for 2210 purposes in After you file

What is 2020 federal tax liability for 2210 purposes

PCake — Mon, 09 Mar 2026 06:22:57 GMT

Hi,

I don't understand why I would have underpaid in 2020 if I used turbotax to file. All the income was included in the tax return. Did turbotax not report the correct amount owed to the federal government?

I don't think this is right. I paid the amount owed to the federal government as expected and now I have a 2210 form. I even spoke to a tax expert live last year (2020 taxes).

Please explain.

PCake

Re: What is 2020 federal tax liability for 2210 purposes

VolvoGirl — Sat, 05 Feb 2022 19:50:53 GMT

Did the IRS send you the 2210 and a bill for 2020? Or is this on your 2021 return?

If you do not pay enough tax, you may have to pay a penalty for underpayment of estimated tax. Even if you are getting a refund you can still owe a penalty for not paying in evenly during the year. Generally, most taxpayers will avoid this penalty if they owe less than $1,000 in tax after subtracting their withholdings and credits, or if they paid at least 90% of the tax for the current year, or 100% of the tax shown on the return for the prior year, whichever is smaller. It is included in your tax due or reduces your refund.

Re: What is 2020 federal tax liability for 2210 purposes

BB515 — Sat, 02 Apr 2022 02:55:10 GMT

What does term tax liability mean on form 2210? Is that just the same as your entire federal tax

Re: What is 2020 federal tax liability for 2210 purposes

TiffanyL — Sat, 02 Apr 2022 14:17:02 GMT

Your tax liability is the total amount of tax on your income minus any non-refundable credits such as child tax credit, saver's credit, dependent care credit to name a few:

What does "tax liability" mean?