Form 2220 is used by corporations, certain tax-exempt organizations, and private foundations to determine whether they are subject to the penalty for underpayment of estimated tax, and if so, the amount of the penalty.

2025年2月5日 · Instructions for Form 2220 - Introductory Material. Future. What’s New. Relief from additions to tax for underpayments applicable to the corporate alternative minimum tax (CAMT). General Instructions. Purpose of Form; Who Must File; Who Must Pay the Underpayment Penalty. Exception to the Penalty; How To Use Form 2220; Specific Instructions

Generally, the corporation is not required to file Form 2220 (see Part II below for exceptions) because the IRS will figure any penalty owed and bill the corporation. However, the corporation may still use Form 2220 to figure the penalty.

2024年4月8日 · Form 2220, used by corporations, calculates the underpayment penalty (if any) at a predetermined interest rate from the time at which a quarterly payment was due until it was paid or the due date of the return, if earlier.

We last updated the Underpayment of Estimated Tax By Corporations in January 2025, so this is the latest version of Form 2220, fully updated for tax year 2024. You can download or print current or past-year PDFs of Form 2220 directly from TaxFormFinder. You …

2023年7月28日 · Corporations may have to complete IRS Form 2220 to determine if they have paid enough tax to avoid paying a penalty when they file their tax return. In this article, we’ll walk through what you need to know about IRS Form 2220, including: How to complete IRS Form 2220; When to complete Schedule A; Frequently asked questions

Tax-exempt organizations that file Form 990-T to report unrelated business income must file Form 2220 if they underpay their estimated taxes. This form helps calculate the penalty for any underpayment of taxes related to unrelated business income.

2021年5月25日 · Learn when to include Form 2220 with your IRS Form 990-PF and ensure your private foundation files are correct. Read more about Form 2220 here.

2024年8月23日 · The instructions to Form 2220, Underpayment of Estimated Tax by Corporations, and Form 1120, U.S. Corporation Income Tax Return, have been updated to clarify that affected corporations must file Form 2220 with their federal income tax returns to qualify for relief from penalties under section 6655 for corporations that do not pay estimated tax ...