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2016

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 didn’t check box A or B in Part I, you don’t 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 don’t 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 won’t 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 2016 if you didn’t pay at least the

ers. For 2016, the personal exemption amount is increased to

smaller of:

$4,050. 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 2016 return, or

gross income.

2. 100% of the tax shown on your 2015 return (your 2015 tax

return must cover a 12-month period).

Limit on itemized deductions. For 2016, itemized deductions

for taxpayers with adjusted gross incomes above $155,650 may

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

be reduced.

income tax return. However, an amended return is considered

Reminders

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

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

Additional Medicare Tax. A 0.9% Additional Medicare Tax

replaces previously filed separate returns is considered the

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

original return.

compensation, and self-employment income over a threshold

amount based on your filing status. See Form 8959.

Exceptions to the Penalty

Net Investment Income Tax. You may be subject to Net

You won’t have to pay the penalty or file this form if any of the

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

following applies.

net investment income or the excess of your modified adjusted

You file your return and pay the tax due by March 1, 2017. If

gross income over a threshold amount. See Form 8960.

you don’t file your return and pay the tax due by March 1, 2017,

you may be able to request a waiver of the underpayment

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

penalty.

tax credit. The premium tax credit provides assistance for

You had no tax liability for 2015, you were a U.S. citizen or

premiums for health insurance coverage enrolled in through a

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

Health Insurance Marketplace (also called an Exchange). The

decedent or a domestic trust), and your 2015 return was (or

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

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

refund. For more information, see Form 8962 and Pub. 974.

months.

Health coverage tax credit. You may be eligible to claim the

The total tax shown on your 2016 return minus the amount of

health coverage tax credit. The health coverage tax credit

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

provides assistance to eligible individuals for premiums for

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

certain health insurance coverage enrolled in outside of a Health

lines 1 through 9.

Insurance Marketplace. The credit may reduce the amount of tax

Waiver of Penalty

you owe or increase your refund. This credit doesn’t apply to

health insurance coverage enrollments through a Health

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

Insurance Marketplace. For more information, see Form 8885.

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

Purpose of Form

In 2015 or 2016, you retired after reaching age 62 or became

disabled, and your underpayment was due to reasonable cause,

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

your 2015 or 2016 gross income is from farming or fishing, use

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

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

unusual circumstance, and it would be inequitable to impose the

estimated tax.

penalty. For federally declared disasters, see the separate

information, later.

For a definition of gross income from farming and fishing and

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

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

Estimated Tax.

Check box A in Part I.

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

Who Must File Form 2210-F

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

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

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

figure the penalty yourself and attach the completed form to your

total penalty you figured without regard to the waiver, and enter

return.

the result on line 16.

Aug 03, 2016

Cat. No. 52887B

Instructions For Form 2210-F - Underpayment Of Estimated Tax By Farmers And Fishermen - 2016

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