the penalty for 2013 will be computed on $2 not $300,000. Effectively, there is no penalty.
Making progress; we all agree it is based on $2... But is it exactly no penalty, or just nearly no penalty. If the latter, then what exactly.
is no penalty.
Why don't you tell us what you think? What is your point?
Incidentally, thanx for your blessing on our progress.
is no penalty.
Print the 2210. Fill out the first and second page (short method) using whatever assumptions you want. You can then calculate the penalty based upon your own assumptions.
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