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2210 calculating penalty when no ES was made by April 15. TX disaster victims were not required to file an ES until June 15 for first payment. Is there a "magic button" somewhere I can't find that keeps the freeze victims from having a penalty calculated for the usual 1st quarter payment?
Thanks in advance
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A Magic Button would be great.
I have looked at the 2210 calculation page for the Q1 amount and entered that on the waiver line at bottom of 2nd page. Then use button & 2nd reason for adj on 1st page to bring up a statement explaining our Q1 payment date of June 15th for Storm Uri
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Thanks for the reply.
I looked at the IRS instructions for 2210. On page 2 it discusses what to do if you are in a federally declared disaster area. Says DO NOT file 2210. IRS will automatically determine that the special rules apply and will, if any penalty is due, bill you.
To a degree I like that, however, I hate not calculating the penalty and telling the client to be looking for a bill if they screwed up on the other payments due. Will probably calculate what I think is due and warn them to forward the bill to me for checking.
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For the most part I suppress the 2210 penalties and let the IRS send a bill anyway.
I would just fudge the 1Q payment date to 4/15. If the 2210 goes away, you're done. If not then you can decide what to do next. I haven't seen many of these but I *think* the way the law reads, the "period of time" between 4/15 and the adjusted disaster due date is disregarded.
Rick