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previous page Previous Page: Publication 17 - Your Federal Income Tax - Credit for Withholding and Estimated Tax
next page Next Page: Publication 17 - Your Federal Income Tax - Income
 Use previous pagenext page to find additional occurrences of topic items.Index for this Publication
taxmap/pub17/p17-023.htm#en_us_publink100032429

Underpayment Penalty(p43)


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previous topic occurrence Penalty for Underpayment next topic occurrence

If you did not pay enough tax, either through withholding or by making estimated tax payments, you will have an underpayment of estimated tax and you may have to pay a penalty.
Generally, you will not have to pay a penalty for 2008 if any of the following situations applies. Special rules apply if you are a farmer or fisherman. See Farmers and Fishermen in chapter 4 of Publication 505 for more information.
taxmap/pub17/p17-023.htm#en_us_publink100032430

IRS can figure the penalty for you.(p43)


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previous topic occurrence Estimated Tax Penalty next topic occurrence

If you think you owe the penalty but you do not want to figure it yourself when you file your tax return, you may not have to. Generally, the IRS will figure the penalty for you and send you a bill. However, if you think you are able to lower or eliminate your penalty, you must complete Form 2210 or Form 2210-F and attach it to your return. See chapter 4 of Publication 505.
previous pagePrevious Page: Publication 17 - Your Federal Income Tax - Credit for Withholding and Estimated Tax
next pageNext Page: Publication 17 - Your Federal Income Tax - Income
 Use previous pagenext page to find additional occurrences of topic items.Index for this Publication