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  • It 21059 Form

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New York State Department of Taxation and Finance Underpayment of Estimated Income Tax By Individuals and Fiduciaries New York State IT-2105.9 New York City Yonkers Name(s) as shown on return Identification.

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How to fill out the IT-2105.9 form online

The IT-2105.9 form is essential for individuals and fiduciaries in New York State to report underpayment of estimated income tax. This guide provides a step-by-step approach to filling out the form online, ensuring clarity and ease of use for all users.

Follow the steps to complete the IT-2105.9 form online.

  1. Click ‘Get Form’ button to access the IT-2105.9 form and open it in your web browser.
  2. Enter your name(s) as shown on your tax return in the designated field.
  3. Provide your identification number, which can be either your Social Security Number (SSN) or Employer Identification Number (EIN).
  4. In Part 1, complete all required fields that apply to you, starting with the total tax from your 2012 return before withholding and estimated tax payments.
  5. Continue filling in the credits from your Form IT-201, referring to lines 63 through 71 as needed, and add these lines together.
  6. Subtract the total refundable credits from the total tax to determine your current year tax.
  7. Calculate 90% of your current year tax and input this figure where indicated.
  8. Enter your tax withholdings as noted in the required forms and determine if you need to complete further sections based on your outcomes.
  9. If your result indicates an underpayment, follow the prompts for either the short method or the regular method in Parts 2 and 3 respectively, supplying all required information.
  10. Finally, after ensuring all sections are complete and accurate, save your changes, and choose to download, print, or share the completed form as required.

Complete your IT-2105.9 form online today for a seamless filing experience.

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Once a due date has passed, the IRS will typically dock 0.5% of the entire amount you owe. For each partial or full month you don't pay the tax in full, the penalty increases. It's capped at 25%.

Form IT-2105.9 Underpayment of Estimated Income Tax By Individuals and Fiduciaries Tax Year 2022.

The penalty may be waived if you can show reasonable cause for paying late. The penalty charge is: 0.5% of the unpaid amount for each month (or part of a month) it is not paid, up to a maximum of 25%

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.

If you owe less than $1,000 to the IRS or $500 to the FTB after subtracting your withholdings, estimated payments and tax credits, you will not be charged an underpayment penalty. If you did not have any income tax liability for the previous year, you will not be charged an underpayment penalty.

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.

We calculate the penalty based on: The amount of the underpayment. The period when the underpayment was due and underpaid. The interest rate for underpayments that we publish quarterly.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
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
Privacy Notice
Legal Hub
Content Takedown Policy
Bug Bounty Program
About Us
Blog
Affiliates
Contact Us
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 WorkFlow
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
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