topic Re: Form 2210 in Deductions & credits

Form 2210

XLman — Mon, 09 Mar 2026 04:28:19 GMT

TT estimates that Form 2210 will be available to the PC program on 3/17/22. By checking the BOX, "IRS to figure penalty", the program will bypass trying to calculate any penalty and allow filing the return without waiting for the 2210 to be released. Is there a downside to checking this box? My quarterly payments were more than the minimum required based on the new IRS form 2210 for 2021 on IRS website. Has anyone else dealt with this issue? It seems like a good option to me....

Re: Form 2210

Vanessa A — Fri, 21 Jan 2022 14:31:46 GMT

The only "downside" is that you may get a bill later in the mail from the IRS with the penalties and interest owed instead of paying it all at the time you submit your return.

Other than that, the calculations are the same.

Re: Form 2210

XLman — Fri, 21 Jan 2022 14:54:59 GMT

Thanks Vanessa. But what if there is no penalty, as I believe is the case for me because I made quarterly payments that were more than the required amounts each quarter. I checked this using the new IRS form 2210 for 2021 that is available on the IRS site. It shows that the required estimated payment amounts are 1/4 of the annual requirement, which is the lesser of 1) 100% of my 2020 tax or 2) 90% of my 2021 tax. It seems that checking the "IRS to figure penalty" BOX in TurboTax, will allow me to eFile without waiting until 3/17/22 for the TurboTax update.

Re: Form 2210

Vanessa A — Fri, 21 Jan 2022 15:05:50 GMT

Checking the box won't change whether or not you owe a penalty. So, if you are correct in your assumption that there will be no penalty, then you can check the box to file your return and that will be the end of it.

Re: Form 2210

FresYes — Fri, 04 Feb 2022 00:12:41 GMT

I have tried it both ways - checking and unchecking. I have tried to file but TT says there is a new Form 2210 that will be out 2/24? The IRS website has the 2210 available right now?

Re: Form 2210

MarilynG1 — Fri, 04 Feb 2022 03:18:55 GMT

Yes, you could download the Form 2210 from the IRS website and use it as a guide to make your entries into TurboTax when it is available for Efile after 2/24.

Click this link for more info on Federal Tax Form Availability.

Re: Form 2210

FresYes — Fri, 04 Feb 2022 15:11:26 GMT

It seemed that TT was using its version of the 2210 to make calculations for my return. My penalty was a whopping $21 so I am OK if the IRS takes it from my refund or bills me later. Can I efile now or do I still need to wait for 3 weeks?

Re: Form 2210

Cynthiad66 — Fri, 04 Feb 2022 20:45:44 GMT

@FresYes

You should be able to e-file now. Go back through the review and follow the prompts to e-file your return.

[Edited: 2/4/22 12:45PM PST]

Re: Form 2210

FresYes — Fri, 04 Feb 2022 21:21:57 GMT

Nope - not yet. The estimated date to efile changed from the 24th to the 17th.

Re: Form 2210

DianeW777 — Fri, 04 Feb 2022 21:42:06 GMT

If you want to wait for the IRS to bill you for any penalty you can change your answer so you can file now, which is what our Tax Expert @Cynthiad66 was indicating based on your question.

You also have the option to wait until the form is ready to file, which is February 24th, if you choose.

Re: Form 2210

FresYes — Fri, 04 Feb 2022 21:54:05 GMT

Hi,

Even though I do not think I should even have the penalty in the first place I would rather file sooner rather than later. So, can tell me how to get back to the point where I can choose to have the IRS bill me and I can file today?

Thank You

Re: Form 2210

DaveF1006 — Sat, 05 Feb 2022 03:54:35 GMT

The penalty will be announced in the program but you may be entitled to an exception to the penalty. Go to:

Federal>other tax situations
Additional Tax Payments>underpayment penalties
Continue through the section. You may be entitled to an exception if:

Your 2020 tax liability was zero
If your 2020 return covered a 12-month period
if you were a US citizen or resident in 2020

If you answered no to any of these questions, there will be other questions that will determine if qualify for the waiver such as if you are disabled or if your underpayment was due to causality, disaster, or other unforeseen circumstance. Then at the end of this exhaustive interview, there will be a screen stating Let the IRS Bill Me Later. Here is where you have the option to make that choice.

Re: Form 2210

FresYes — Sun, 06 Feb 2022 00:01:04 GMT

Thanks @DaveF1006. I tried to go back through the steps mentioned. I arrived at a section called "Annualized Income Method" where there is a path to calculate or not. I have tried both methods and have not come to the spot where I can have the IRS figure out my penalty. We do not fit the categories regarding "casualties, disasters, or unforeseen circumstances". I understand that we are not eligible for a waiver.

Oddly, the penalty amount jumps around each time I go through this section?

I just want to file our taxes sooner rather than later.

Re: Form 2210

JillS56 — Sun, 06 Feb 2022 03:19:16 GMT

The problem you are having is because Form 2210 (the form that calculates the penalty) will not be ready to e-file until 02/24, see availability chart. Since the form is not ready, it is likely that it is not pulling the correct date information yet. Hold up until Form 2210 is ready and see if this issue corrects itself then.

If you really want to file before that (I am not recommending that), there is a box you can check to allow the IRS to figure the penalty and bill you later. If you chose that option, Form 2210 is not included with your return, so it won't prevent you from e-filing. But the best option is to wait until 02/24 or whenever the form is finalized and available so you will know exactly what your penalty status (if any) is.

Why am I getting an underpayment penalty if I'm getting a refund? According to your facts, this would not apply to you as you did pay timely, but it does explain how the timing works. @DawnC

@FresYes

Re: Form 2210

artstras — Sun, 06 Feb 2022 19:03:57 GMT

I think there are some errors in Form 2210 Part III Penalty Computation for 2021

First, the Payment Due Dates are for 2020 rather than 2021 (doesn't really affect anything, but looks wrong).

Second, in line 11 (d), the software entered my tax for 2021, not he amount that I indicated I had paid on 12/8/2021.

Just for my own satisfaction, please let me know if there is an error in the software.

I would also like to know how the software knew that I had not paid estimated tax for 2021.

Thanks,

Art

Re: Form 2210

RobertB4444 — Sun, 06 Feb 2022 22:34:09 GMT

Form 2210 is estimated to be available by 3/17/22. Until then the form in the system is a temporary filler and may not be fully functional.

Re: Form 2210

arsenarp — Tue, 08 Feb 2022 15:41:10 GMT

I also need this form to prove that I do NOT owe a penalty, checking the box to have IRS calculate the penalty only creates a new headache by having to deal with the IRS down the road when you don't need to. Not having this form available until March is giving me pause to find another software package next year.

Re: Form 2210

artstras — Tue, 08 Feb 2022 23:29:40 GMT

How will I know when a software update includes the new form 2210? If you would drop a note here it would be really helpful.

Thanks

Art

Re: Form 2210

DoninGA — Tue, 08 Feb 2022 23:40:02 GMT

@artstras wrote:

How will I know when a software update includes the new form 2210? If you would drop a note here it would be really helpful.

Thanks

Art

In the Review section of the program there should be list of forms included in your return are shown as not yet being available. There is an option to select to be notified by email when they become available.

Re: Form 2210

DaveF1006 — Tue, 08 Feb 2022 23:48:02 GMT

@artstras Some TurboTax customers are experiencing an issue with Form 2210 not calculating lines 18-26 correctly.

If you're experiencing the issue above, please go here to receive email notifications when any updates related to this issue become available