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The 2210 will not be available for paper filing and e-filing until 2/25/2021 in TurboTax.
The 2210 is a estimate until the final form and e-file approval has been received from IRS and cannot be used without the Form 2210 in the return.
Therefore, if you want to file your return before that, then you will have to let IRS calculate the penalty for you since Form 2210 will not be available to be used until after 2/25/2021.
If you are able to wait until the form is released in TurboTax on 2/25/2021, 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.
When I filed my taxes via TurboTax on Feb. 23rd, I was prompted to check the box for letting the IRS figure out the penalty and send a bill if due. I checked it since it would not let me file otherwise. What happens next? I do not see the Form 2210 in my federal filing, though it is in my state filing. Will the IRS be sending me a bill in the mail? Or am I now required to go back into TurboTax and file this form. Very confusing when I was filing on the site. Thanks!
A penalty on Line 38 of your Form 1040, as well as Form 2210, will not be completed if you elect to have the IRS figure out your penalty. The IRS will send you a bill with your penalty due for underpayment.
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