form 2210 underpayment of estimated tax

[jasontran]

There is a BIG RED  phrase  "DO NOT FILE " on  a Form 2210 - underpayment of estimated tax.  Does it mean that i can not submit the file electronically at this time ?

Thank you

jase

[Jim-from-Ohio]

I have been checking box to have IRS figure it out.. 2210 goes away.. return prints out fine without the 2210, return e-files fine. 

[Just-Lisa-Now-]

then we just have to listen to clients that DID have a penalty whine when IRS sends a bill.

[jasontran]

thank you

[jeffmcpa2010]

I'm with Lisa, I don't want my clients later getting a bill from the IRS, Makes it look like it was ME that didn't know what I was doing.

Keep in mind that anyone needing a 2210, almost always has to write a check. Your clients are much different than mine, if they are in a hurry for their return so they can write a check February 11, instead of April 14, (15,16,17,18...whatever the **bleep** date is extended to this year for whatever stupid reason)

[IRonMaN]

To me the amount matters.  If it is showing a $5 penalty, I would say screw it and let it fly.  If it says a $500 penalty, I am going to stop the presses and wait.

[garman22]

I can see both sides of the argument here. But it is going to be a case by case basis. I may bypass the 2210 for certain amounts and halt on others. BUT, I will include a letter/note explaining the possibility of getting a notice from Uncle Sam showing the 2210 penalties. 

[Just-Lisa-Now-]

For the little penalties like that, I always mark let IRS figure, they dont send bills for those.

[jasontran]

That is what i though. The client will loudly whine when they get a bill

[jasontran]

Can i wait until the IRS finalize the form 2210?  If the clients already paid their taxes and later receive an additional bill, they will whine and call me up to complain.  

[jeffmcpa2010]

That's what I am doing, none of mine are going to mail the check until april in any case.

[BobKamman]

I've offered a $1,000 reward to anyone who sees a computer-generated notice from IRS assessing ES penalty of less than $100.  In 40 years, haven't had to pay out anything.  Telling clients to voluntarily pay it is just adding insult to the injury of your fees.  

[TaxGuyBill]

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@jasontran wrote:

Can i wait until the IRS finalize the form 2210?

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The IRS has finalized it, it is Intuit that is not doing their job.