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Iowa Free Printable IA 2210S Short Method Underpayment of Estimated Tax by Individuals, 45-012 for 2020 Iowa Short Method Underpayment of Estimated Tax by Individuals 45-012

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Short Method Underpayment of Estimated Tax by Individuals 45-012
IA 2210S Short Method Underpayment of Estimated Tax by Individuals, 45-012

2019 IA 2210S Short Method Underpayment of Estimated Tax by Individuals https://tax.iowa.gov Name(s): ________________________________ Social Security Number: __________________ Who May Use this Form? You may use the short method for calculation of underpayment of estimated tax (IA 2210 penalty) if: • You did not make any estimated payments; or • You paid the same amount of estimated tax on each of the four payment due dates. You must use the regular method to calculate your IA 2210 penalty if: • You made any estimated payments late; or • You choose to annualize your income for IA 2210 penalty calculations. Note: If any payment was made earlier than the due date for that payment, you may use the short method, but using it may cause you to pay a larger penalty than the regular method. If the payment was only a few days early, the difference is likely to be small. 1. Enter the amount from 2019 IA 1040, line 53 ...................................................... 1. _____________ 2. Enter 2019 IA 1040, lines 59, 60, 61, and 62, total refundable Iowa credits ........ 2. _____________ 3. Balance: Subtract line 2 from line 1 ..................................................................... 3. _____________ 4. Multiply line 3 by 90% (0.90). If less than $200 STOP! Do not complete this form................................................................................................ 4. _____________ 5. Enter 2018 Iowa tax amount before surtax less refundable Iowa credits. If 2018 federal AGI plus bonus depreciation/179 adjustment from IA 1040, line 14, and all other Iowa net income decoupling exceeds $150,000 ($75,000 if married filing separate), enter 110% of your 2018 Iowa tax. ............................................. 5. _____________ 6. Enter the smaller of line 4 or line 5....................................................................... 6. _____________ 7. Enter the total of 2019 Iowa withholding and estimate payments from IA 1040, lines 63 and 64 ...................................................................................... 7. _____________ 8. Tax balance to calculate IA 2210S: Subtract line 7 from line 6 ............................ 8. _____________ • If less than $200, STOP! You do not owe IA 2210 penalty. • If line 8 is $200 or more, continue to line 9. 9. Multiply line 8 by .046448. If full payment was made on or after April 30, 2020, line 9 is your IA 2210S penalty. Enter this amount on the IA 1040, line 71 .......... 9. _____________ Note: If full payment was made before April 30, 2020, complete lines 10 through 14 to calculate your IA 2210S penalty. 10. Enter line 8 above or the amount of estimated taxes paid, whichever is less. .... 10. ____________ 11. Enter the number of days from date of payment to April 30. ............................... 11. ____________ 12. Multiply line 11 by line 10 .................................................................................... 12. ____________ 13. Multiply line 12 by .00019126.............................................................................. 13. ____________ 14. Balance: Subtract line 13 from line 9. This is your IA 2210S penalty. Enter this amount on the IA 1040, line 71……………………………………….......14. ____________ 45-012a (10/03/19) 2019 IA 2210S Instructions Who may file 2210S? If you are an individual taxpayer other than a qualifying farmer or fisher, you may be able to use this form to determine whether your income tax was sufficiently paid throughout the year by withholding or by estimated payments. If payments were not sufficient, you may owe a penalty. Each individual required to make estimated payments must file an estimated payment under his/her name and Social Security Number. The IA 2210 penalty must also be calculated separately by each individual for filing status 3 (married filing separately on a combined return) and filing status 4 (married filing separate returns). How to Avoid Underpayment Penalty: You may avoid underpayment penalty if estimated payments for 2019, made on or before the required dates for payment, plus Iowa tax withheld for 2019, are equal to the lesser of: • 90% of the tax shown on the 2019 return; or • 100% of the tax shown on the 2018 return if your 2018 federal AGI plus any bonus depreciation/section 179 adjustment from line 14 of the IA 1040 and all other Iowa net income decoupling is $150,000 or less ($75,000 or less for married filing separate federal returns); or • 110% of the tax shown on the 2018 return if your 2018 federal AGI plus any bonus depreciation/section 179 adjustment from line 14 of the IA 1040 and all other Iowa net income decoupling is greater than $150,000 (or greater than $75,000 for married filing separate federal returns). Your 2018 return must have covered a period of 12 months. Filing an Estimate and Paying the Tax, Calendar Year Taxpayers: The form IA 1040ES is used to estimate and mail your quarterly tax payments. Estimated tax payments are due on the last day of April, June, and September of 2019, and final payment by January 31, 2020. Note: If any date shown falls on a weekend, federal holiday, or legal holiday as defined in Iowa Code section 4.1(34), substitute the next regular business day. Waiver of Penalty: The underpayment of estimated tax penalty may be waived if the underpayment was due to casualty, disaster, or other unusual circumstances. The penalty may also be waived if you retired at age 62 or later, or became disabled in the tax year for which the estimated payments were required, and such underpayment was due to reasonable cause and not to willful neglect. Farmers and Fishers: If two-thirds of your gross income is received from farming or fishing, different rules apply. See the instructions for the IA 2210F form. Note: As a result of flooding across Iowa during 2019, the Director of the Iowa Department of Revenue issued a series of orders granting extensions of time for taxpayers in certain counties to file returns and make estimated payments. If you live in one of the counties for which an extension was granted, you may apply the extension deadline, rather than the standard deadline shown in the chart above in determining when your payment was due. The orders providing the full lists of affected counties and describing which types of payments and other filings the extensions cover may be found at https://tax.iowa.gov/2019-flooding. 45-012b (07/23/19)
Extracted from PDF file 2019-iowa-form-ia-2210s.pdf, last modified October 2019

More about the Iowa Form IA 2210S Individual Income Tax Estimated TY 2019

We last updated the Short Method Underpayment of Estimated Tax by Individuals 45-012 in February 2020, so this is the latest version of Form IA 2210S, fully updated for tax year 2019. You can download or print current or past-year PDFs of Form IA 2210S directly from TaxFormFinder. You can print other Iowa tax forms here.


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Other Iowa Individual Income Tax Forms:

TaxFormFinder has an additional 43 Iowa income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form IA 1040 Individual Income Tax Return
IA 1040-A Schedule A
IA 1040-V Tax Payment Voucher
IA 1040 Table IA 1040 Tax Tables
IA 1040-ES Individual Income Estimate Tax Payment Voucher

Download all IA tax forms View all 44 Iowa Income Tax Forms


Form Sources:

Iowa usually releases forms for the current tax year between January and April. We last updated Iowa Form IA 2210S from the Department of Revenue in February 2020.

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Form IA 2210S is an Iowa Individual Income Tax form. While most taxpayers have income taxes automatically withheld every pay period by their employer, taxpayers who earn money that is not subject to withholding (such as self employed income, investment returns, etc) are often required to make estimated tax payments on a quarterly basis. Failure to make correct estimated payments can result in interest or penalties.

About the Individual Income Tax

The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.

Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!

Historical Past-Year Versions of Iowa Form IA 2210S

We have a total of nine past-year versions of Form IA 2210S in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2019 Form IA 2210S

IA 2210S Short Method Underpayment of Estimated Tax by Individuals, 45-012

2018 Form IA 2210S

IA 2210S Short Method Underpayment of Estimated Tax by Individuals, 45-012

2017 Form IA 2210S

IA 2210S Short Method Underpayment of Estimated Tax by Individuals, 45-012

2016 Form IA 2210S

IA 2210S Short Method Underpayment of Estimated Tax by Individuals, 45-012

Short Method Underpayment of Estimated Tax by Individuals 45-012 2015 Form IA 2210S

IA 2210S Short Method Underpayment of Estimated Tax by Individuals, 45-012

Short Method Underpayment of Estimated Tax by Individuals 45-012 2014 Form IA 2210S

2014 IA 2210S, Short Method Underpayment of Estimated Tax by Individuals

Short Method Underpayment of Estimated Tax by Individuals 45-012 2013 Form IA 2210S

45012 (IA 2210S).pmd

2012 Form IA 2210S

45012 (IA 2210S).pmd

2011 Form IA 2210S

45012 (IA 2210S).pmd


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