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If you didn’t pay in enough taxes through withholding, here’s what you need to know about filing a Form 2210 waiver along with your 2018 tax return, if you qualify.
To claim the 80% waiver, you must complete IRS Form 2210 and file page 1 of the form with your 2018 tax return. The form can be filed with a return filed electronically or on paper.
The waiver calculation will be built into commercially available tax prep software and show up in an upcoming revision of Form 2210 and its accompanying instructions.
The waiver is requested on Form 2210, to be filed with the 2018 income tax return. See IRS Notice 2019-11. Send Print Report ...
Clients who find themselves in this situation should complete IRS Form 2210, Underpayment of Estimated Tax by Individuals, Estates, and Trusts, in order to request a waiver of penalties.
Farmers looking to request the waiver must include Form 2210-F, which can be found here , with their 2018 tax return. The IRS’ full announcement can be read here .