Form2210 - Form 2210 Underpayment of Estimated Tax by...

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OMB No. 1545-0140 Underpayment of Estimated Tax by Individuals, Estates, and Trusts Form 2210 ' See separate instructions. Department of the Treasury Internal Revenue Service Attachment Sequence No. 06 ' Attach to Form 1040, 1040A, 1040NR, 1040NR-EZ, or 1041. Name(s) shown on tax return Identifying number Required Annual Payment Enter your 2008 tax after credits from Form 1040, line 56 (see instructions if not filing Form 1040) 1 Other taxes, including self-employment tax (see page 2 of the instructions) 2 2 3 3 Current year tax. Combine lines 1, 2, and 3. If less than $1,000, you do not owe a penalty; do not file Form 2210 4 4 5 Withholding taxes. Do not include estimated tax payments. (see page 2 of the instructions) 6 Maximum required annual payment based on prior year’s tax (see page 2 of the instructions) 6 8 Required annual payment. Enter the smaller of line 5 or line 8 7 9 Refundable credits. Enter the total of your earned income credit, additional child tax credit, credit for federal tax paid on fuels, health coverage tax credit, refundable credit for prior year minimum tax, first-time homebuyer credit, and recovery rebate credit 9 Next: Is line 9 more than line 6? Yes. You may owe a penalty, but do not file Form 2210 unless one or more boxes in Part II below applies. For Paperwork Reduction Act Notice, see page 6 of separate instructions. Form 2210 (2008) Reasons for Filing. Check applicable boxes. If none apply, do not file Form 2210. A You request a waiver (see page 2 of the instructions) of your entire penalty. You must check this box and file page 1 of Form 2210, but you are not required to figure your penalty. B You request a waiver (see page 2 of the instructions) of part of your penalty. You must figure your penalty and waiver amount and file Form 2210. C Your income varied during the year and your penalty is reduced or eliminated when figured using the annualized income installment method. You must figure the penalty using Schedule Al and file Form 2210. D Cat. No. 11744P Part I Part II Your penalty is lower when figured by treating the federal income tax withheld from your income as paid on the dates it was actually withheld, instead of in equal amounts on the payment due dates. You must figure your penalty and file Form 2210. If box B, C, or D applies, you must figure your penalty and file Form 2210. 5 Multiply line 4 by 90% (.90) Subtract line 6 from line 4. If less than $1,000, you do not owe a penalty; do not file Form 2210 7 8 Do You Have To File Form 2210? Complete lines 1 through 7 below. Is line 7 less than $1,000? You are not required to figure your penalty because the IRS will figure it and send you a bill for any unpaid amount. If you want to figure it, you may use Part III or Part IV as a worksheet and enter your penalty amount on your tax return, but file only page 1 of Form 2210. Yes
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This note was uploaded on 03/21/2010 for the course ACCOUNTING 533 taught by Professor Eric during the Spring '09 term at Universidade do Minho.

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Form2210 - Form 2210 Underpayment of Estimated Tax by...

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