Instructions For Form 2210-F - Underpayment Of Estimated Tax By Farmers And Fishermen - 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.
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
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
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.
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
the result on line 16.
Aug 03, 2016
Cat. No. 52887B


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