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Reset Form Michigan Department of Treasury (Rev. 1120), Page 1 of 2Issued under authority of Public Act 281 of 1967, as amended.2020 MICHIGAN Underpayment of Estimated Income Tax MI2210Include with.

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Estimated tax is the method used to pay tax on income that is not subject to withholding. If you did not 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. ...

The Michigan Form 2210, Underpayment of Estimated Income Tax, is used to determine if you owe penalties and/or interest for failing to make estimated payments or for underpaying the estimated tax due.

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.

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. If you don't pay at least $12,600 of that during 2020, you'll be assessed the penalty.

Penalty and Interest for Underpayment of Estimates (MI-2210)Penalty is 25 percent of the tax due (with a minimum of $25 per quarter) for failing to make estimated payments or 10 percent (with a minimum of $10 per quarter) for failing to make sufficient estimated payments or making estimated payments late.

Estimated tax is the method used to pay tax on income that is not subject to withholding. If you did not 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, 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 ...

Don't file Form 2210. You don't owe a penalty. You may owe a penalty.

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.

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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
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
MI MI-2210
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