Internal Revenue Code section 6654 imposes a penalty for failure to pay estimated tax. These forms are used by taxpayers to determine whether they are subject to the penalty and to compute the penalty if it applies. The Service uses this information to determine whether the taxpayer is subject to the penalty, and to verify the penalty amount.
US Code:
26 USC 6654
Name of Law: Failure by individual to pay estimated income tax
Taxpayer burden under OMB 1545-0140 was decreased to reflect taxpayer burden for Estates and Trusts only. An estimated 125,000 Estate and Trust taxpayers are expected to file Form 2210 and Form 2210-F. Taxpayer burden for individuals is included under OMB 1545-0074.
$175,263
No
No
No
No
No
Yes
Uncollected
M Mixon 202 317-6024
No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Form Form 2210-F Form 2210-F, Underpayment of Estimated Tax by Farmers and Fishermen (Farms)
2018-10-15_SS_1545-0140rAB.doc
Form 2210-F, Underpayment of Estimated Tax by Farmers and Fishermen (Farms)