Publication 505 - Tax Withholding And Estimated Tax (Page 45 of 49) in pdf

OMB No. 1545-0140

2210

Underpayment of

Form 2210 (2001)

Page

Form

2001

Estimated Tax by Individuals, Estates, and Trusts

Part IV

Regular Method (See page 3 of the instructions if you are filing Form 1040NR or 1040NR-EZ.)

See separate instructions.

Department of the Treasury

Attachment

Payment Due Dates

Example 4.6

Attach to Form 1040, 1040A, 1040NR, 1040NR-EZ, or 1041.

Internal Revenue Service

Sequence No.

Section A—Figure Your Underpayment

Name(s) shown on tax return

Identifying number

(a)

(b)

(c)

(d)

4/15/01

6/15/01

9/24/01

1/15/02

Ben Brown

333 - 00 - 3333

In most cases, you do not need to file Form 2210. The IRS will figure any penalty you owe and send you a bill.

Required installments. If box 1b applies, enter the

File Form 2210 only if one or more boxes in Part I apply to you. If you do not need to file Form 2210, you still

amounts from Schedule AI, line 25. Otherwise, enter

may use it to figure your penalty. Enter the amount from Part III, line 21, or Part IV, line 37, on the penalty line

1,529

25% (.25) of line 14, Form 2210, in each column

of your return, but do not attach Form 2210.

Estimated tax paid and tax withheld (see page 3 of

Part I

Reasons for Filing—If 1a, 1b, or 1c below applies to you, you may be able to lower or eliminate your

the instructions). For column (a) only, also enter the

penalty. But you must check the boxes that apply and file Form 2210 with your tax return. If 1d below

807

amount from line 23 on line 27. If line 23 is equal to

applies to you, check that box and file Form 2210 with your tax return.

1,000

or more than line 22 for all payment periods, stop

Check whichever boxes apply (if none apply, see the text above Part I and do not file Form 2210):

here; you do not owe the penalty. Do not file Form

807

1,807

You request a waiver. In certain circumstances, the IRS will waive all or part of the penalty. See Waiver of Penalty on

2210 unless you checked a box in Part I

page 2 of the instructions.

Complete lines 24 through 30 of one column

before going to the next column.

You use the annualized income installment method. If your income varied during the year, this method may reduce the

amount of one or more required installments. See page 5 of the instructions.

Enter amount, if any, from line 30 of previous column

You had Federal income tax withheld from wages and, for estimated tax purposes, you treat the withheld tax as paid on

807

1,807

the dates it was actually withheld, instead of in equal amounts on the payment due dates. See the instructions for

Add lines 23 and 24

line 23 on page 3.

Add amounts on lines 28 and 29 of the previous

722

1,444

1,166

Your required annual payment (line 14 below) is based on your 2000 tax and you filed or are filing a joint return for either

column

2000 or 2001 but not for both years.

Subtract line 26 from line 25. If zero or less, enter -0-.

Part II

Required Annual Payment

Example 4.6

807

363

641

For column (a) only, enter the amount from line 23

4,685

Enter your 2001 tax after credits (see page 2 of the instructions)

If the amount on line 27 is zero, subtract line 25 from

2,346

- 0 -

Other taxes (see page 2 of the instructions)

line 26. Otherwise, enter -0-

7,031

6/15

9/2

1,000

1/12

1,000

4/15

Add lines 2 and 3

Underpayment. If line 22 is equal to or more than

9/15

444

1/15

166

Earned income credit

line 27, subtract line 27 from line 22. Then go to line

722

1,444

1,166

888

24 of next column. Otherwise, go to line 30

Additional child tax credit

Overpayment. If line 27 is more than line 22, subtract

Credit for Federal tax paid on fuels

- 0 -

line 22 from line 27. Then go to line 24 of next column

Add lines 5, 6, and 7

7,031

Current year tax. Subtract line 8 from line 4

Section B—Figure the Penalty (Complete lines 31 through 36 of one column before going to the next column.)

6,328

Example 4.8

Multiply line 9 by 90% (.90)

4/15/01

6/15/01

Withholding taxes. Do not include any estimated tax payments on this line (see page 3 of the

April 16, 2001—June 30, 2001

3,228

Days:

instructions)

Number of days from the date shown above

Subtract line 11 from line 9. If less than $1,000, stop here; you do not owe the penalty. Do not

line 31 to the date the amount on line 29 was

3,803

file Form 2210

paid or 6/30/01, whichever is earlier

Underpayment on line 29

Number of

Enter the tax shown on your 2000 tax return (110% of that amount if the adjusted gross income

(see page 4 of

days on line 31

shown on that return is more than $150,000, or, if married filing separately for 2001, more than

.08

the instructions)

6,116

9.65

4.75

365

$75,000). Caution: See page 3 of the instructions

6,116

6/30/01

9/24/01

Required annual payment. Enter the smaller of line 10 or line 13

July 1, 2001—December 31, 2001

Days:

If line 11 is equal to or more than line 14, stop here; you do not owe the penalty.

Number of days from the date shown above

Do not file Form 2210 unless you checked box 1d above.

line 33 to the date the amount on line 29 was

Part III

Short Method (Caution: See page 3 of the instructions to find out if you can use the short method. If

paid or 12/31/01, whichever is earlier

you checked box 1b or 1c in Part I, skip this part and go to Part IV.)

Underpayment on line 29

Number of

12.27

(see page 5 of

days on line 33

Enter the amount, if any, from line 11 above

.07

the instructions)

6.56

21.91

365

Enter the total amount, if any, of estimated tax payments you made

12/31/01

1/15/02

Add lines 15 and 16

January 1, 2002—April 15, 2002

Days:

Total underpayment for year. Subtract line 17 from line 14. If zero or less, stop here; you do

Number of days from the date shown above

not owe the penalty. Do not file Form 2210 unless you checked box 1d above

line 35 to the date the amount on line 29 was

Multiply line 18 by .04397 (see page 3 of the instructions if you are eligible for relief due to the

paid or 4/15/02, whichever is earlier

September 11, 2001, terrorist attacks)

Underpayment on line 29

Number of

1.97

(see page 5 of

days on line 35

● If the amount on line 18 was paid on or after 4/15/02, enter -0-.

.06

the instructions)

365

.41

13.14

● If the amount on line 18 was paid before 4/15/02, make the following computation to find the

Penalty. Add all amounts on lines 32, 34, and 36 in all columns. Enter the total here and on Form

amount to enter on line 20.

Amount on

Number of days paid

1040, line 71; Form 1040A, line 46; Form 1040NR, line 69; Form 1040NR-EZ, line 26; or Form 1041,

line 18

before 4/15/02

.00016

line 26, but do not file Form 2210 unless you checked one or more of the boxes in Part I

70.66

Penalty. Subtract line 20 from line 19. Enter the result here and on Form 1040, line 71; Form

1040A, line 46; Form 1040NR, line 69; Form 1040NR-EZ, line 26; or Form 1041, line 26, but do

2210

Form

(2001)

not file Form 2210 unless you checked one or more of the boxes in Part I above

2210

For Paperwork Reduction Act Notice, see page 6 of separate instructions.

Cat. No. 11744P

Form

(2001)

Publication 505 - Tax Withholding And Estimated Tax Page 45

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