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Level 5
March 21, 2021
Question

Underpayment of estimated tax penalty

  • March 21, 2021
  • 2 replies
  • 21 views

I have noticed that the program is not calculating any federal underpayment of estimated tax penalties.

Is this correct or do I have some turned off in my program.

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2 replies

PATAX
Level 12
March 21, 2021

Check to see if you checked the box to have the IRS calculate the penalty... I have not had any issues with this and it is calculating the penalty... Just my opinion

BobKamman
Level 15
March 21, 2021

That would be the box on the 2210.  I hope it's not something that can be done for all returns -- you just want to do it when you know it's below the IRS criterion for assessment.