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IRS.gov Website
Publication 17
taxmap/pub17/p17-022.htm#en_us_publink100032429

Underpayment Penalty for 2011(p45)

rule
If you did not pay enough tax, either through withholding or by making timely 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 2011 if any of the following apply. See Publication 505, chapter 4, for a definition of "total tax" for 2010 and 2011.
taxmap/pub17/p17-022.htm#en_us_publink1000210078

Farmers and fishermen(p45)

rule
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/p17-022.htm#en_us_publink100032430

IRS can figure the penalty for you.(p45)

rule
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.