ANOTHER 2021 Form 2210 issue (haven't seen this one yet)

[Kipa]

I am also being impacted by the errors/issues on Form 2210/2210AI being reported by @EdRaleigh  and @babyrd55  here:

2021 Form 2210 Calculation Error

Form 2210 TY 2021 error

I have an additional issue.  The Form 2210 Worksheet allows no edits.  In the 4th quarter section (d), it calculates the 4th quarter interest/underpayment penalty through April 15th with no ability to change that date.  The IRS only requires interest to be paid through the payment date, which for me will happen well before April 15th.  Thus Turbo Tax is calculating too much interest/payment.

I also tried to override the total penalty amount on Form 2210 itself (line 19), but that number is also not editable.

How am I supposed to get this right and not overpay?

Kipa

[babyrd55]

I haven't tried this Kipa, but I believe if you go into the Tax Payments Worksheet and input your final payment with the anticipated payment date, it will stop interest calculation at that point. At one intermediate point in my hassle with this I noticed that the incorrect calculation TT was making cut off at the point that I made the 1/15/22 estimated payment for Q42021, which brought my total payment above the miscalculated installment due for Q1.

Also, I believe that the IRS would recompute the interest once it receives your payment and issue a refund of any overpayment. I say "receives" advisedly as I have in the past (not related to me) seen where they might not cash a check for a month or more after they get it, but the interest calculation stopped a couple days after the return was sent in. So I think they flag the correct date received and give credit for payment on that date. (But no guarantees lately given the issues they have.)

Obviously, it's still a bummer to overpay due to a TT error that they won't even acknowledge.

Hey everyone in general following this: I'm not on Twitter but maybe some of you are. Does Intuit or TurboTax have a presence there? Publicly calling them out on this obvious error would really cause them to have to look at it, particularly if the IRS watches their feed.

Brent

[EdRaleigh · Accepted solution]

@Kipa,  I agree with @babyrd55 about the "Tax Payments" worksheet for any quarterly payments you may have made.  Any dates that you enter into that form will carry through to the 2210 Penalty Worksheet.

In addition, and I think this is what is impacting your calculation, on the very top of Form 2210, line D, you can enter a date that you will be making your payment to the IRS.  If you don't enter a date, TT defaults to 4/15/22.  Changing that date will recalculate the number of days that you owe interest to the IRS.  (TT also asks the question of when you are going to be making the payment towards the end of the step by step interview process for underpayment penalties).

[Kipa]

Thank you both.