Get Ri Form Ri-2210 2020

This guide provides a comprehensive step-by-step process for completing the RI Form RI-2210 online. Users will find detailed instructions to help navigate each section of the form, ensuring accurate submission while addressing potential underpayment of estimated taxes.

Follow the steps to complete the RI Form RI-2210 online effectively.

1. Click the 'Get Form' button to access the RI Form RI-2210 and open it in your preferred online editor.
2. Enter your name(s) and Social Security Number (SSN) or Federal Employer Identification Number (FEIN) in the designated fields at the top of the form.
3. Check the appropriate box if you are a farmer or fisherman or if you are using the annualization of income method. This will determine your eligibility for certain exemptions.
4. In Part 1, Required Annual Payment, start by entering your 2020 Rhode Island income tax amount from the appropriate line of your filed tax forms.
5. Calculate 80% of the amount entered in line 1 and fill this figure in line 2.
6. Record the total Rhode Island taxes withheld from your income based on previous forms in line 3.
7. Subtract the line 3 amount from line 1 and check if the result is $250.00 or less. If so, you do not need to complete the rest of the form.
8. Enter your 2019 Rhode Island tax amount in line 5 based on the applicable prior year tax form.
9. In line 6, record the smaller value between line 2 and line 5, including zero if applicable.
10. Proceed to Part 2, Shortcut Method, by entering the value from line 6 in line 7.
11. Fill in the total amount of estimated taxes and withholding taxes paid from your tax forms in line 8.
12. Subtract line 8 from line 7 to determine any underpayment in line 9.
13. Calculate the interest on any potential underpayment using the guidelines in lines 10 and 11, noting specific payment dates relative to interest computation.
14. In line 12, provide the final figure for underestimating interest and record it on the relevant tax return lines.
15. Complete Parts 3 and 4 as necessary to calculate underpayment and determine charges, including individual payment due dates.
16. Once all required fields are filled, save your changes, and consider options to download, print, or share the completed form.

Complete your RI Form RI-2210 online today to ensure compliance and avoid any penalties related to underpayment.