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2014

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 2014 if you did not pay at least the

ers. For tax years beginning in 2014, the personal exemption

smaller of:

amount is increased to $3,950. There is a phaseout of the

exemption, the amount of which is determined by the taxpayer's

1. Two-thirds of the tax shown on your 2014 return, or

filing status and adjusted gross income.

2. 100% of the tax shown on your 2013 return (your 2013 tax

return must cover a 12-month period).

Limit on itemized deductions. For tax years beginning in

2014, itemized deductions for taxpayers with adjusted gross

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

incomes above $152,250 may 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 expired at the end of 2013.

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

replaces previously filed separate returns is considered the

Premium Tax Credit. Beginning in 2014, you may be eligible to

original return.

claim the premium tax credit. The premium tax credit provides

assistance for premiums for health insurance coverage enrolled

Exceptions to the Penalty

in through a Health Insurance Marketplace (also called an

Exchange). The credit may reduce the amount of tax you owe or

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

increase your refund. For more information, see Form 8962 and

following applies.

Publication 974, Premium Tax Credit.

You file your return and pay the tax due by March 2, 2015. If

you do not file your return and pay the tax due by March 2, 2015,

Reminders

you may be able to request a waiver of the underpayment

penalty.

Additional Medicare Tax. A 0.9% Additional Medicare Tax

You had no tax liability for 2013, you were a U.S. citizen or

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

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

compensation, and self-employment income over a threshold

decedent or a domestic trust), and your 2013 return was (or

amount based on your filing status. See Form 8959, Additional

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

Medicare Tax.

months.

Net Investment Income Tax. You may be subject to Net

The total tax shown on your 2014 return minus the amount of

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

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

net investment income or the excess of your modified adjusted

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

gross income over a threshold amount. See Form 8960, Net

lines 1 through 9.

Investment Income Tax—Individuals, Estates, and Trusts.

Waiver of Penalty

Purpose of Form

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

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

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

your 2013 or 2014 gross income is from farming or fishing, use

In 2013 or 2014, you retired after reaching age 62 or became

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

disabled, and your underpayment was due to reasonable cause,

estimated tax.

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

For a definition of gross income from farming and fishing and

unusual circumstance, and it would be inequitable to impose the

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

penalty. For federally declared disasters, see the separate

Estimated Tax.

information, later.

Who Must File Form 2210-F

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

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

Check box A in Part I.

figure the penalty yourself and attach the completed form to your

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

return.

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

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

Dec 04, 2014

Cat. No. 52887B

Instructions For Form 2210-F - Underpayment Of Estimated Tax By Farmers And Fishermen - 2014

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