Form Ia 2210s - Short Method Underpayment Of Estimated Tax By Individuals - 2011
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1
2Iowa Department of Revenue
2011 IA 2210S
Short Method Underpayment of Estimated Tax by Individuals
Name
Social Security Number
1. Enter amount from line 54 2011 IA 1040 (balance before surtax). ........................... 1. _________________
2. Enter 2011 Iowa refundable credits (total of IA 1040 lines 62 to 66). ...................... 2. _________________
3. Balance: Subtract line 2 from line 1. ............................................................................. 3. _________________
4. Multiply line 3 by 90% (0.90). ......................................................................................... 4. _________________
5. Enter 2010 Iowa tax amount (before surtax less refundable credits)* ..................... 5. _________________
6. Enter the smaller of line 4 or line 5. .............................................................................. 6. _________________
7. Enter the total of 2011 Iowa withholding and estimate payments
(IA 1040 lines 60 & 61) ................................................................................................... 7. _________________
8. Tax balance to calculate IA 2210S: Subtract line 7 from line 6
(if less than $200, STOP; you do not owe 2210 penalty).. ....................................... 8. _________________
9. Multiply line 8 by 0.033177 ............................................................................................. 9. _________________
If full payment was made on or after April 30, 2012, enter the amount from line 9
on line 73 of the IA 1040. This is your 2210S penalty
If full payment was made before April 30, 2012, complete lines 10 through 14.
10. Enter line 8 above or the amount of estimated taxes paid, whichever is less. ....... 10. _________________
11. Enter the number of days from date of payment to April 30. ..................................... 11. _________________
12. Multiply line 11 by line 10. .............................................................................................. 12. _________________
13. Multiply line 12 by 0.00013661. ..................................................................................... 13. _________________
14. Balance: Subtract line 13 from line 9. Enter the amount from line 14 on line 73 of
the IA 1040. This is your IA 2210S penalty. ............................................................... 14. _________________
*110% of 2010 if federal AGI is over $150,000 ($75,000 if married filing separate) and add bonus depreciation
WHO MAY USE THIS FORM
You may use the short method for 2210 penalty if:
You did not make any estimated payments, or
•
You paid the same amount of estimated tax on each of the four payment due dates.
•
You must use the regular method to calculate your 2210 penalty if:
You made any estimated tax payments late,
•
•
You choose to annualize your income for 2210 penalty calculations.
Note: If any payment was made earlier than the due date for that payment, you may use the short method, but using it
may cause you to pay a larger penalty than the regular method. If the payment was only a few days early, the difference
is likely to be small.
*1145012019999*
45-012a (10/05/11)
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