Solved: Form 2210 - why won't it let TT figure the underpa...
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Level 2

Form 2210 - why won't it let TT figure the underpayment penalty for 2020 without giving me a Fed Review error?

I under paid our estimated tax payments by a lot this past year.  I know there is a penalty and if I let Turbo Tax figure it out it says we owe $121.00 in penalty.    Not a big deal.  However, when I do the Federal review it keeps telling me that there is an Error on Form 2210 and when I go to the error page to fix it, it won't let me continue UNLESS I Check the box that says Let the IRS figure the Penalty and Bill me.    I WANT TO PAY it NOW with the Amount I already OWE.   I don't want a bill from them.  How can I fix this? 

1 Best answer

Accepted Solutions
Employee Tax Expert

Form 2210 - why won't it let TT figure the underpayment penalty for 2020 without giving me a Fed Review error?

The 2210 will not be available for paper filing and e-filing until 2/25/2021 in TurboTax.

 

Therefore, if you want to file your return before that, then you will have to let IRS calculate the penalty for  you since it will not be available to be used.

 

If you are able to wait until the form is released in TurboTax on 2/25/2021, so you can use it to calculate your own penalty, then you can update your software, complete the calculations and figure it yourself before you file your return.

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4 Replies
Employee Tax Expert

Form 2210 - why won't it let TT figure the underpayment penalty for 2020 without giving me a Fed Review error?

The 2210 will not be available for paper filing and e-filing until 2/25/2021 in TurboTax.

 

Therefore, if you want to file your return before that, then you will have to let IRS calculate the penalty for  you since it will not be available to be used.

 

If you are able to wait until the form is released in TurboTax on 2/25/2021, so you can use it to calculate your own penalty, then you can update your software, complete the calculations and figure it yourself before you file your return.

View solution in original post

Level 2

Form 2210 - why won't it let TT figure the underpayment penalty for 2020 without giving me a Fed Review error?

Thank you.  I can certainly wait.  It is just a few days away and I usually double check everything in a week or two after I did them the first time to make sure I didn't forget anything.   Then I wait a couple more weeks and do another update before I actually do a filing.  Just couldn't figure out why the form wasn't working for me.  Now I know and appreciate your getting back to me.

Returning Member

Form 2210 - why won't it let TT figure the underpayment penalty for 2020 without giving me a Fed Review error?

Today is February 25th 2021 - the date Form 2210 is to be available.  What time today?

 

Thanks!

 

Level 2

Form 2210 - why won't it let TT figure the underpayment penalty for 2020 without giving me a Fed Review error?

I just checked at 3:00 PM Central Time and it HAS NOT been updated yet.

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