Enlarge image | R-210R (1/17) Underpayment of Individual Income Tax Penalty 2016 Computation 2016 Taxable Year Resident Filers PLEASE PRINT OR TYPE. Name as shown in the order on tax return Social Security Number Yours Yours Spouse’s Spouse’s Section 1 – Required Annual Payment Computation 1 2016 tax liability - See instructions. 00 2 2015 tax liability - See instructions. 00 3 Enter the smaller of Line 1 or Line 2 00 4 Number of payments required for year Section 2 – Underpayment Computation 04/15/16 06/15/16 09/15/16 01/15/17 Required payment -From Section 1, divide amount 5 00 00 00 00 on Line 3 by amount on Line 4 . See instructions. 6 Amount paid for each period - See instructions. 00 00 00 00 Carryforward - Overpayment or underpayment from previous period shown on Line 9 of each column. Carryforward amounts from the previous period can 7 00 00 00 be a positive number or a negative number. Note: No carryforward amount can be shown for the first period. See instructions. 8 Amount available for period. Add Lines 6 and 7. 00 00 00 00 Underpayment or overpayment - Subtract Line 5 from Line 8. A positive number indicates an 9 overpayment. A negative number indicates an 00 00 00 00 underpayment. Move the number on this line to Line 7 in next column. Section 3 – Exceptions Exception 1 – See worksheet on page 3. If you meet this exception, you do not owe an underpayment penalty. 10 STOP – You do not need to file this form. 11 Exception 2 – Prior Year’s Tax Liability 00 00 00 00 12 Exception 3 – Prior Year’s Income. 00 00 00 00 13 Exception 4 – Annualized Income 00 00 00 no exception available 14 Exception 5 – Installment Period Income 00 00 00 00 Section 4 – Penalty Computation 15 Amount of underpayment (from Line 9 above) 00 00 00 00 16 Date of Payment – See instructions. 17 Number of days from due date of installment 18 Penalty – See instructions. 00 00 00 00 Add amounts on Line 18. Enter total here and on Form IT-540, Line 35 if you have an overpayment. Enter 19 00 the total here and on Form IT-540, Line 48 if you have a balance due. |