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wcwillcox
New Member

Why was Form 2210 not included in my process? I was charge a $221 penalty for underpayment when Form 2210 would have allowed me to cancel that!

I had most of my income in Q4 and it was not predictable.  Therefore, I did not overpay quarterly tax payments
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3 Replies
TeresaM
Expert Alumni

Why was Form 2210 not included in my process? I was charge a $221 penalty for underpayment when Form 2210 would have allowed me to cancel that!

Form 2210  calculates penalties for underpayment of estimated taxes and if you did not see a prompt for it at the end of your return, it is completed in the Other Tax Situations on the left menu. It will allow you to annualize if your income varied during the year and your penalty is reduced or eliminated when figured using the annualized income installment method.

 

  1. Next, scroll down to Additional Tax Payments and click on Show More
  2. Click on Underpayment Penalties
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wcwillcox
New Member

Why was Form 2210 not included in my process? I was charge a $221 penalty for underpayment when Form 2210 would have allowed me to cancel that!

There was no prompt for this at the end of my return.  I discovered the penalty after I filed my return.  Can I file form 2210 in order to get the penalty canceled, and if so, do I need to file an amended return to do so?

MaryK4
Expert Alumni

Why was Form 2210 not included in my process? I was charge a $221 penalty for underpayment when Form 2210 would have allowed me to cancel that!

If you want to file a 2210 to request a waiver of penalty, you can amend your return and include the information.  See How to Correct Federal Tax Returns - TurboTax.

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