Underpayment of Taxes

[trust812]

For Tax Year 2024 I got income from a Trust in December 2024 and the K-1 was issued in February 2025. If I didn’t fill out a Form 2210 when I filed my 2024 Tax Return and if the IRS sends a letter that I underestimated taxes, indicating that there is interest and a penalty, can a 2210 Form be filled out after the fact so that the IRS would know that the income was in December 2024 and the interest wouldn’t be as bad since it was at the end of the 2024 Tax year? 

[RobertB4444]

You absolutely can.  You would amend your 2024 tax return and include a form 2210 and annualize your income using the TurboTax system tools.   Then you can file that amended return and pay the penalties shown (which should be less than the ones computed by the IRS) and you'll be all set.

If you want to be extra cautious, and pre-empt a possible future letter from the IRS, you can write a return letter to the address on your notice including a copy of the 2210 and letting them know an amended return has been filed.

[trust812]

Thank you!