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Underpayment of ... 1 Enter your 2011 tax after credits from Form 1040, line 55 (see instructions if ... Do not include estimated tax payments (see instructions).
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What is underpayment of estimated tax?
Underpayment of estimated tax occurs when a taxpayer pays less in estimated tax payments throughout the year than is required by the IRS.
Who is required to file underpayment of estimated tax?
Individuals, businesses, and self-employed individuals who expect to owe at least $1,000 in tax after subtracting withholding and refundable credits are required to file underpayment of estimated tax.
How to fill out underpayment of estimated tax?
Underpayment of estimated tax can be filled out by using IRS Form 2210 and following the instructions provided by the IRS.
What is the purpose of underpayment of estimated tax?
The purpose of underpayment of estimated tax is to ensure that taxpayers pay a sufficient amount of tax throughout the year to avoid penalties and interest.
What information must be reported on underpayment of estimated tax?
Taxpayers must report their income, deductions, credits, and payments made throughout the year on the underpayment of estimated tax form.
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