IRS Form 2210 (Underpayment of Estimated Tax by Individuals, Estates, and Trusts)

IRS Form 2210 is used by individuals, estates, and trusts to determine whether they owe a penalty for not paying enough estimated tax throughout the year. If you earn income that isn't subject to withholding (like self-employment income), you typically need to pay estimated taxes quarterly. If you end up underpaying, Form 2210 helps calculate any penalties you might owe. It's important to file this form if you're notified by the IRS or if you think you may have underpaid, as it clarifies your situation and helps you avoid unexpected penalties come tax time.