Form 2210

[RobertB4444]

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.

[arsenarp]

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.   

[artstras]

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

[DoninGA]

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@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

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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.

[DaveF1006]

@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

[artstras]

I couldn't find the list of unavailable forms you referred to in the review section.  Can you be more specific?

[artstras]

I clicked on "click here" in your note.  When I submitted the form, it said I needed to log in.  When I logged in, I couldn't find the form.  Is it me?

[VolvoGirl]

This list?  It's not in any order.  You have to look through it real slow to find the form number

https://ttlc.intuit.com/community/forms/help/irs-forms-availability-table-for-turbotax-individual-pe... 

[wmpyoungx]

FresYes is right. IRS released the Form 2210 about a month ago. TT says IRS has not made it available yet. 

TT says I owe a penalty. I don't. If you are using the exact withholding method to reduce or eliminate the penalty, one cannot file until TT clones the IRS form, which - to repeat - has been available to the public for about a month. The 2021 Form 2210 is significantly different from 2020, but nearly identical to the 2019 form.

[BillM223]

When the IRS releases a form, then all tax software compares have to make a PDF copy, an XML copy (for e-filing), get both approved by the IRS, then code the programming behind the scenes that present the input screens and populate the 2210 form (if necessary), oh, and then test it a great deal to make sure it is (1) correct and (2) does not negatively affect other parts of the return. As I said, every software company has to do this.

With all the changes that are happening - many caused by the constant "moving the goalposts" of last spring where Congress and the states kept changing the laws after tax season had started - every tax software company has to allocate resources and schedule the work. It's not possible to make and test every change all at once.

In this case, the 2210 is scheduled to be Available (i.e. integrated into the TurboTax system and properly tested) by 2/17/2022, which I think may be earlier than previous years. See Federal Forms Availability. Please watch that link, as dates can change.

@wmpyoungx

[wmpyoungx]

Unfortunately, TT is currently using the 2020 Form 2210 programming methodology, which is significantly different than 2021 because IRS extended the due date for the first 2020 estimated tax payment from April 15 to July 15, 2020 because of COVID issues, until it reprograms Form 2210 based on the 2021 version which IRS released to the public about a month ago on January 12.  

Form 2210 is required to be filed in some situations, if the underpayment of estimated tax penalty can be reduced or eliminated if you are using the:

Annualized Income Installment Method (e.g., you realized significant capital gain or other income in the latter part of 2021), or 

actual withholding method, by treating tax withheld from income during 2021 as paid on dates actually withheld (e.g., you received a significant bonus from which tax was withheld from your employer in the first quarter of 2021), or another reason.

In these cases, it is best to delay finalizing your 2021 return until TT finishes programing the updated 2021 Form 2210.

[Aggie 71]

I would like to use a military term for the current Form 2210, but I will use nice language "It is messed up". The line 11 column (a) entry (forget about the wrong year) shows the amount for only one of my two quarterly tax payments.  Therefore, I am underpaid per the IRS. A $14.00 penalty is not significant but if the form was correct there would never have been an underpayment.  I signed up to receive an e-mail when the "blessed" IRS gets its act together.

[bepag]

There is also a problem with the tax calculation on Schedule AI when the tax is calculated using the Qualified Dividends & Capital Gains Tax Worksheet. The long-term capital gain/loss for each the first three periods (Capital Gains Tax Computation Smart Worksheet, line B Schedule D, line 15 columns a, b, and c) are not being inflated to an annualized amount resulting in a higher tax calculation. The qualified dividends are being inflated. A workaround is to input the inflated annualized capital gains in each of the periods. Let’s see if it gets corrected in the update.

[Aggie 71]

That was useless & did not apply to 

form 2210

[ocfootballknut]

You do realize that the Form 2210 that was released in TurboTax last week has numerous issues, right?  There's a whole discussion about this at the link below. As of today (February 22nd), we've received no update as to when this will be fixed.

https://ttlc.intuit.com/community/taxes/discussion/2021-form-2210-calculation-error/00/2490720