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October 14, 2024
Question

What form do I use in order to calendarize income for the purposes of calculating penalties associated with failure to pay estimated tax?

  • October 14, 2024
  • 1 reply
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1 reply

VolvoGirl
Employee
October 14, 2024

You might be able to eliminate it or at least reduce it. You can go to Federal Taxes tab or Personal tab, under Other Tax Situations and select Start by the Underpayment Penalties. You will answer a series of questions that may reduce or eliminate the penalty. Or you can elect to have the IRS figure the penalty for you. It's form 2210.


It's under

Federal or Personal (for Home & Business Desktop)

Other Tax Situations

Additional Tax Payments

Underpayment Penalties - Click the Start or update button