1040: Estimates and Penalties

Use the Estimates and Penalties folder to select your compute and print options for estimates and underpayment/late filing penalties on a locator-by-locator basis. These options may also be set up in Tax Defaults.

On the Underpayment > 2210 Penalty screen, you may select various options for the computation of Form 2210. The system default is to compute and print Form 2210 if it is applicable in the return.

If the return is being filed late, it may need interest and penalties computed. On the Penalties/Interest screen, select the interest and/or penalties to be computed.

After you select the interest/penalties to be computed, you MUST enter the Date return is to be filed on the Payments and Extensions > Extensions > Federal Payments screen.

Tutorials/1040_estimates_penalties.htm/TY2019

Last Modified: 08/13/2020

Last System Build: 06/18/2021