When preparing Form 2210 in TaxSlayer Pro, the maximum underpayment penalty is calculated. The IRS's calculation often results in a lower amount.
Over the years, the precision of the IRS's calculation for the penalty for underpayment of estimated tax has improved, often resulting in a smaller penalty than the penalty calculated in TaxSlayer Pro.
It isn't necessary to file Form 2210 if the taxpayer is only filing it to include the penalty for underpayment of estimated taxes. The form instructions say not to file Form 2210 if the only purpose is to calculate the penalty and include it in the return.
Examine the form before completing it and use the flowchart at the top of the form to determine if the form has to be filed. If neither of Boxes B, C, or D is checked in Part II you do not need to compute the underpayment penalty; the IRS will calculate the underpayment penalty and send the taxpayer a bill for the penalty amount, if any.
If a taxpayer's return is filed by the individual deadline in April, the IRS will not charge interest if the penalty gets paid by the date on the bill.
Additional Information:
Desktop: Form 2210 - Underpayment of Estimated Tax
ProWeb: Form 2210 - Underpayment of Estimated Tax