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The 2210 form is not yet updated, and this is the reason the date is incorrect at this time. You can check the availability of the federal forms here.
If you’re required to file Form 2210 because one or more of the boxes in Part II applies, you must complete certain lines and enter the penalty on the "Estimated tax penalty" line of your return.
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Brandi,
Has the 2210 issue been corrected? I keep running the "check for updates" and get the response that I am up to date. However, when I enter "continue" on my tax review, I keep going around in circles and can't file through turbo tax.
Are you suggesting that I check the box and let the IRS calculate my penalty or will this problem be resolved shortly so I don't have to file a 2210 with the IRS?
Hi Brandi,
Reread your response and clicked on the link "you can check the availability of the federal forms here" and see it reads 2/25/21. Does that mean this issue will be resolved by that date and I should "hold tight" on submitting my return until after this date?
Thanks
@JP36 It means that's when the form is tentatively set to become available. The IRS determines when forms will become available.
Thank you for your prompt response Akina.
Can I assume that once the IRS makes the form available, I will be able to transmit my return with the penalty estimated by Turbo Tax without the need to manually enter any additional information?
Yes, once TurboTax releases the 2210 for paper printing and e-filing on 2/25/2021, you should be able to update the software in your computer and go into the return and update it and then file it with the 2210 calculating any penalties instead of having IRS calculate your penalty and send you a bill.
What should I put for this date if I owe a penalty but I am due a refund that exceeds the amount of the penalty?
Put in the date you plan to file your taxes.
The only reason I can think of that would result in you owing a penalty, and still getting a refund is that you made substantial estimated payments this year (2022) or very late last year.
Regardless, the IRS is going to recalculate any penalty and assess it from your refund.
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