Form 2210 - Underpayment Penalty - Allow IRS to Compute Penalty
The checkbox at the top of Form 2210 must be selected if you would like the IRS to compute any applicable penalty and send you a bill. To select this option in your TaxAct® return:
From within your TaxAct return (Online or Desktop) click on the Federal tab. On smaller devices, click in the upper left-hand corner, then select Federal
Click Underpayment Penalty and then click Yes to review the entries
Continue to the screen Underpayment Penalty - IRS and check the box to indicate that you'd like the IRS to compute any applicable penalty and send you a bill
Please note that if any box is checked on the screen Underpayment Penalty - Prior Year Tax or the screen Underpayment Penalty - Reasons for Filing you will not be taken to the screen Underpayment Penalty - IRS. Also note that the IRS will only send a bill if they determine it is applicable to the situation.