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corporate underpayment penalty

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Message Board corporate underpayment penalty

  • This topic has 2 replies, 2 voices, and was last updated 2 weeks ago by Anonymous .
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    • #260319
      Anonymous
      Member

      can you use annualized method if no estimated payments were made??

    • #262520
      Diane White
      Participant

      Yes under certain conditions. The instructions for Form 2220 are very detailed addressing the annualized methods available.

    • #263039
      Anonymous

      I have been through the instructions, worksheet II Exception B- Annualized current year income seems to read that you can’t use this if you haven’t made the payments. FTB help line says that isn’t true, lacerte indicates you have to paper file if you use form 5806, not sure how to proceed. Appreciate any help.

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