Is an underpayment waiver available from the state of Iowa for those who retired during the year?

[Dan]

I retired this year, and therefore had irregular income.  As a result I underpaid my Iowa state taxes and owe a 5% penalty.  I have heard there is a Federal waiver for those who retired during the year.

[MichaelL1 · Accepted solution]

Page 3 of this pdf lists a waiver for those 62 or older that retired during the year.

https://tax.iowa.gov/sites/files/idr/forms1/2017IA2210%2845007%29.pdf

The next link is the actual waiver Form for the state of Iowa.

If not sure, I would file it, you might get the penalty waived.

https://tax.iowa.gov/sites/files/idr/forms1/Penalty%20Waiver%20Request%20%2878-629%29.pdf

[Dan]

This helpful, however the waiver form does not mention retiring after age 62 as one of the 13 reasons.  I see the form is dated 2015.  Perhaps the form is out of date.

[MichaelL1]

The form is 2017 and the instructions dated 2015, it is directly from the State Department of Revenue web site.  I would still file it.