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  • Form N-210

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Clear Form FORM N-210 (REV. 2009) STATE OF HAWAII DEPARTMENT OF TAXATION Underpayment of Estimated Tax by Individuals, Estates, and Trusts 2009 ? See Separate Instructions ? Attach to Form N-11, N-13,.

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505- Tax Withholding and Estimated Tax. If you do need to file Form 2210 you can find the form within the program by going to: Federal Section. Payments and Estimates.

Use Form 2210 to see if you owe a penalty for underpaying your estimated tax and, if you do, to figure the amount of the penalty.

The underpayment penalty is a fine the IRS may charge taxpayers who don't pay enough tax through withholdings or estimated payments during the tax year. ... The amount you paid during the tax year didn't at least equal 100% of your taxes owed the prior year.

If you didn't pay enough tax throughout the year, either through withholding or by making estimated tax payments, you may have to pay a penalty for underpayment of estimated tax. ... Generally, taxpayers should make estimated tax payments in four equal amounts to avoid a penalty.

To avoid an underpayment penalty from the IRS, you must pay at least 90% of the taxes owed for a given year or 100% of the liability from the prior year. If your adjusted gross income on the prior year's return exceeded $150,000, you're responsible for 110% of the tax liability.

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.

When you file your return, the IRS calculates how much tax you should have paid each quarter. The IRS applies a percentage (the penalty rate) to figure your penalty amount for each quarter. The penalty amount for each quarter is totaled to come up with the underpayment penalty you owe.

Generally, most taxpayers will avoid this penalty if they either owe less than $1,000 in tax after subtracting their withholding and refundable credits, or if they paid withholding and estimated tax of at least 90% of the tax for the current year or 100% of the tax shown on the return for the prior year, whichever is ...

You'll incur an underpayment penalty when you pay less than 90% of your tax liability during the tax year. The standard penalty is 3.398% of your underpayment, but it gets reduced slightly if you pay up before April 15. So let's say you owe a total of $14,000 in federal income taxes for 2020.

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© Copyright 1997-2025
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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
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
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