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  • Form 2210me

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FORM 2210ME Underpayment of Estimated Tax by Individuals Estates or Trusts Enclose with your Form 1040ME or Form1041ME See instructions on back 1202128 For calendar year 2012 or scal year beginning 2012 and ending Your SSN or EIN Name s as shown on Form 1040ME or 1041ME - Part I Calculating Your Underpayment 2012 tax. Form 1040ME - line 26 minus lines 27c and 27d or Form 1041ME - line 6. 1. Multiply tax on line 1 by 90 66 2/3 for farmers and sh.

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How to fill out the Form 2210me online

Form 2210me is crucial for understanding any potential underpayment penalties on your estimated tax obligations. This guide provides clear, step-by-step instructions to help you fill out the form online with confidence.

Follow the steps to complete Form 2210me online:

  1. Press the ‘Get Form’ button to access the form and open it in your preferred document editor.
  2. Complete the year fields at the top of the form, ensuring you specify the fiscal year beginning and ending dates accurately.
  3. Enter your Social Security Number (SSN) or Employer Identification Number (EIN) as required.
  4. Provide the name(s) as shown on your Form 1040ME or Form 1041ME.
  5. In Part I, calculate your 2012 tax by following the instructions to subtract applicable lines from your previous forms.
  6. Multiply the tax amount found in line 1 by 90% to fill in line 2.
  7. Report the amount of Maine income tax withheld from other forms on line 3.
  8. Subtract line 3 from line 1 and check if the result is below $1,000 for line 4.
  9. If applicable, enter your 2011 tax amount on line 5.
  10. Determine the lesser of line 2 or line 5 to fill in line 6.
  11. Calculate 25% of the amount on line 6 and enter that figure on line 7.
  12. Fill in the due dates for your estimated tax payments in line 8.
  13. For line 9, enter the estimated tax due, as calculated from line 7.
  14. Complete lines 10a through 10d by detailing your tax payments.
  15. On line 11, subtract line 10d from line 9 and determine if it results in an underpayment or overpayment.
  16. In Part II, enter payment details on lines 12 to 16, following the guidelines for penalty calculation.
  17. Complete, review, and ensure all required signatures are present.
  18. Finally, save your completed form, print it for your records, or share it as necessary.

Get started on filling out your Form 2210me online today.

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If your adjusted gross income (AGI) for last year exceeded $150,000, you must pay the lesser of 110% of last year's tax or 90% of this year's tax. Typically, underpayment penalties are 5% of the underpaid amount, and they're capped at 25%. Underpaid taxes also accrue interest at a rate that the IRS sets annually.

If you don't pay the amount shown as tax you owe on your return, we calculate the Failure to Pay Penalty in this way: The Failure to Pay Penalty is 0.5% of the unpaid taxes for each month or part of a month the tax remains unpaid. The penalty won't exceed 25% of your unpaid taxes.

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.

You may qualify for penalty relief if you tried to comply with tax laws but were unable due to circumstances beyond your control. If you received a notice or letter, verify the information is correct. If the information is not correct, follow the instructions in your notice or letter.

How to fill form 2210 Sign in to TurboTax and select Take me to my return. Click and search for underpayment of taxes. Select the Jump to link in the search results. The Underpayment Penalties screen will display the penalty amount. Select Continue to review this section and make any needed adjustments.

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.

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.

You received a penalty because you were late If you filed your income tax return or paid your income taxes after the due date, you received a penalty. To avoid penalties in the future, file or pay by the due date.

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.

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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