If I’m getting money refunded, why would I owe an IRS underpayment penalty?
The IRS calculates underpayment penalties separately for each of the four periods of the year. This means you can end up owing a penalty for an earlier payment period even if you paid enough later in the year to make up for it. To avoid this, and the need to complete Form 2210, you must make accurate estimated payments for the tax year by these dates:
- April 15
- June 15
- Sept. 15
- Jan. 15
If your income changed throughout the year, you could lower or eliminate one or more estimated payments. To do so, use the annualized income installment method on Form 2210.
Learn more about notice CP30A, why you received it, and how to handle the notice with help from the tax experts at H&R Block.
Can you file taxes as single when your status is married on your W-4 form? Learn more from the tax experts at H&R Block.
Filed your taxes and want to get updates on your return? Use these IRS and state tax phone numbers to check your return status.
Do you need to file for a Georgia tax extension? Learn more from the tax experts at H&R Block.