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  • 2007 Form 2210. Underpayment Of Estimated Tax By Individuals, Estates, And Trusts

Get 2007 Form 2210. Underpayment Of Estimated Tax By Individuals, Estates, And Trusts

Form Department of the Treasury Internal Revenue Service Underpayment of Estimated Tax by Individuals Estates and Trusts See separate instructions. Attach to Form 1040 1040A 1040NR 1040NR-EZ or 1041. OMB No. 1545-0140 Attachment Sequence No. Name s shown on tax return Identifying number Do You Have To File Form 2210 Complete lines 1 through 7 below.

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If a fiduciary fails to make required estimated payments, pays late, or underpays, Treasury may charge penalty and interest. Penalty is 25 percent of the tax due (with a minimum of $25) for failing to file estimated payments, or 10 percent (with a minimum of $10) for underpaying estimated payments.

You may need this form if: You're self-employed or have other income that isn't subject to withholding, such as investment income. You don't make estimated tax payments or paid too little. You don't have enough taxes withheld from your paycheck.

Use Form 2210 to see if you owe a penalty for underpaying your estimated tax. The IRS will generally figure your penalty for you and you should not file Form 2210. You can, however, use Form 2210 to figure your penalty if you wish and include the penalty on your return.

You can also avoid the underpayment penalty if: Your tax return shows you owe less than $1,000. You paid 90% or more of the tax that you owed for the taxable year or 100% of the tax that you owed for the year prior, whichever amount is less8.

Underpayment of estimated tax occurs when you don't pay enough tax during those quarterly estimated tax payments. Failure to pay proper estimated tax throughout the year might result in a penalty for underpayment of estimated tax. The IRS does this to promote on-time and accurate estimated tax payments from taxpayers.

Purpose of Form Use Form 2210 to see if you owe a penalty for underpaying your estimated tax. The IRS will generally figure your penalty for you and you should not file Form 2210. You can, however, use Form 2210 to figure your penalty if you wish and include the penalty on your return.

Waiver of Penalty In 2021 or 2022, you retired after reaching age 62 or became disabled, and your underpayment was due to reasonable cause (and not willful neglect); or. The underpayment was due to a casualty, disaster, or other unusual circumstance, and it would be inequitable to impose the penalty.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232