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Financial Planning / Tax Strategies


Subject:  Re: penalty calc. Date:  4/1/2002  9:12 PM
Author:  edcosoft Number:  59963 of 127614

cabrek; get form 2210 and complete the first page. compute the penalty on the SHORT METHOD. It is only 6% simple interest on the underpayments each quarter. This is what the IRS will do, but you won't understand their letter and will have to compute it yourself just to make sure they aren't cheating you, so you might as well do it yourself and attach it to your return. Do not think that the Regular Method on the next page will result in a lower penalty--it won't. You would only use it if you paid installments also. ed
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