Form 2210-F - Underpayment of Estimated Tax by Farmers and Fishermen

The Federal Form 2210 F, also known as the Underpayment of Estimated Tax by Farmers and Fishermen, is used to determine if a penalty is owed for underpaying estimated taxes. This form is specifically designed for individuals, estates, and trusts with at least two-thirds of their gross annual income from farming or fishing.

It is used to calculate the penalty for underpayment of estimated tax and to request a waiver of the penalty. The form is divided into four parts: an introductory flowchart, Part I: Required Annual Payment, Part II: Reasons for Filing, and Part III: Penalty Computation.

Here are some key points to note about Form 2210 F:

• There is no official filing deadline for the form, but penalties for underpayments are assessed for each of the following quarterly due dates:
  • January 1 - March 31: April 15
  • April 1 - May 31: June 15
  • June 1 - August 31: September 15
  • September 1 - December 31: January 15 of the following year
• If you can't pay the full amount of your penalty on time, you might consider applying for a payment plan with the IRS.
• You might be able to have some or all of your penalty waived if the IRS finds that the underpayment was due to a casualty, disaster, or other unusual event, or if you're older than 62 or disabled and the underpayment happened for a reasonable cause.