Turbo tax has an error, it doesn't print or more accurately doesn't convert all the 2210 to a PDF, just does page 1. Also, Turbotax is not asking me if I want to request a WAIVER by checking box in part 2 of 2210.
For what ever reason Turbotax says I owe $20 more since I owe the Feds more than a $1,000? I did find the worksheet, but but when it converts to a PDF document, only the first page is in the PDF- not the second. This looks like a complex form!! Anyway what a crock, I owe to the Feds $1300 and they want to charge me $20.00 more and then want quarterly payments of over $300- what a pain. I guess if they only charge $20.00
I am not going to make quarterly payments. I might owe less next year anyway? Will just pay them another $20.00 next year is easier than making quarterly payments. How was I to know that I would owe more that a $1,000?
I did the same on state taxes as the penalty wasn't that much for the pain of remembering quarterly payments. I just pay a few dollars extra each year.
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If you owe more than $1,000 you incur penalties. If you owe more than $5,000, you incur substantial penalties. You should pay the IRS quarterly for the amount earned during that quarter. The IRS bases penalties on when the income was earned along with the amount.
You can make estimated payments online at Payments.
Another post of mine will help you make better payments.
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