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2015

Department of the Treasury

Internal Revenue Service

Instructions for Form 2210-F

Underpayment of Estimated Tax by Farmers and Fishermen

The IRS Will Figure the Penalty for

Section references are to the Internal Revenue Code unless

otherwise noted.

You

General Instructions

If you did not check box A or B in Part I, you do not need to figure

the penalty or file Form 2210-F. Complete your return as usual,

Future Developments

leave the penalty line on your return blank, and do not attach

Form 2210-F. If you owe the penalty, the IRS will send you a bill.

For the latest information about developments related to Form

Interest will not be charged on the penalty if you pay by the date

2210-F and its instructions, such as legislation enacted after

specified on the bill.

they were published, go to

Who Must Pay the

What's New

Underpayment Penalty

Personal exemption amount increased for certain taxpay-

You may owe the penalty for 2015 if you did not pay at least the

ers. For 2015, the personal exemption amount is increased to

smaller of:

$4,000. There is a phaseout of the exemption, the amount of

which is determined by the taxpayer's filing status and adjusted

1. Two-thirds of the tax shown on your 2015 return, or

gross income.

2. 100% of the tax shown on your 2014 return (your 2014 tax

return must cover a 12-month period).

Limit on itemized deductions. For 2015, itemized deductions

for taxpayers with adjusted gross incomes above $154,950 may

Return. In these instructions, “return” refers to your original

be reduced.

income tax return. However, an amended return is considered

Health coverage tax credit. The health coverage tax credit

the original return if it is filed by the due date (including

claimed on Form 8885 has been extended.

extensions) of the original return. Also, a joint return that

Reminders

replaces previously filed separate returns is considered the

original return.

Additional Medicare Tax. A 0.9% Additional Medicare Tax

Exceptions to the Penalty

applies to Medicare wages, Railroad Retirement Tax Act (RRTA)

compensation, and self-employment income over a threshold

You will not have to pay the penalty or file this form if any of the

amount based on your filing status. See Form 8959.

following applies.

You file your return and pay the tax due by March 1, 2016. If

Net Investment Income Tax. You may be subject to Net

you do not file your return and pay the tax due by March 1, 2016,

Investment Income Tax (NIIT). NIIT is a 3.8% tax on the lesser of

you may be able to request a waiver of the underpayment

net investment income or the excess of your modified adjusted

penalty.

gross income over a threshold amount. See Form 8960.

You had no tax liability for 2014, you were a U.S. citizen or

Premium Tax Credit. You may be eligible to claim the premium

resident alien for the entire year (or an estate of a domestic

tax credit. The premium tax credit provides assistance for

decedent or a domestic trust), and your 2014 return was (or

premiums for health insurance coverage enrolled in through a

would have been had you been required to file) for a full 12

Health Insurance Marketplace (also called an Exchange). The

months.

credit may reduce the amount of tax you owe or increase your

The total tax shown on your 2015 return minus the amount of

refund. For more information, see Form 8962 and Publication

tax you paid through withholding is less than $1,000. To

974.

determine whether the total tax is less than $1,000, complete

lines 1 through 9.

Purpose of Form

Waiver of Penalty

If you are an individual, estate, or trust and at least two-thirds of

your 2014 or 2015 gross income is from farming or fishing, use

If you have an underpayment on line 13, all or part of the penalty

Form 2210-F to see if you owe a penalty for underpaying your

for that underpayment will be waived if the IRS determines that:

estimated tax.

In 2014 or 2015, you retired after reaching age 62 or became

disabled, and your underpayment was due to reasonable cause,

For a definition of gross income from farming and fishing and

more details, see chapter 2 of Pub. 505, Tax Withholding and

The underpayment was due to a casualty, disaster, or other

Estimated Tax.

unusual circumstance, and it would be inequitable to impose the

Who Must File Form 2210-F

penalty. For federally declared disasters, see the separate

information, later.

If you checked box A or B in Part I of Form 2210-F, you must

figure the penalty yourself and attach the completed form to your

To request either of the above waivers, do the following.

return.

Check box A in Part I.

Complete Form 2210-F through line 15 without regard to the

waiver. Enter the amount you want waived in parentheses on the

dotted line to the left of line 16. Subtract this amount from the

Nov 17, 2015

Cat. No. 52887B

Instructions For Form 2210-F - Underpayment Of Estimated Tax By Farmers And Fishermen - 2015

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