waiver of penalty on form 2210

Read Page 2 of the Form 2210 instructions. It explains everything.

Katie in San Diego

You need the instructions for completing Form 2210. It explains what you are supposed to attach to your return when you file Form

2210 with the waiver box checked. See below for an excerpt from the instructions.

If requesting a waiver, do the following. ? Check box A or box B in Part II. ? If you checked box A, complete only page 1 of Form 2210 and attach it to your tax return (you are not required to figure the amount of penalty to be waived). ? If you checked box B, complete Form 2210 through line 16 (line

34 if you use the regular method) without regard to the waiver. Enter the amount you want waived in parentheses on the dotted line next to line 17 (line 35 for the regular method). Subtract this amount from the total penalty you figured without regard to the waiver, and enter the result on line 17 (line 35 for the regular method). ? Attach Form 2210 and a statement to your return explaining the reasons you were unable to meet the estimated tax requirements and the time period for which you are requesting a waiver. ? If you are requesting a waiver due to retirement or disability, attach documentation that shows your retirement date (and your age on that date) or the date you became disabled. ? If you are requesting a waiver due to a casualty, disaster (other than a federally declared disaster as discussed above), or other unusual circumstance, attach documentation such as copies of police and insurance company reports. The IRS will review the information you provide and decide whether to grant your request for a waiver.

You will have to attach a statement to your return with adequater explanation as to why imposition of said penalty should be granted and just why not granting the waiver would be inequitable.

ChEAr$, Harlan Lunsford, EA n LA