2022 Underpayment of Estimated Tax by Individuals (REV-1630). Forms/Publications-2025

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The document provides instructions for Pennsylvania taxpayers regarding the underpayment of estimated tax by individuals. It outlines the process for calculating underpayments, determining exceptions to interest penalties, and calculating any applicable interest due. Taxpayers must assess their estimated tax payments against their tax liability and follow specific guidelines to determine if they owe penalties or qualify for exceptions based on prior year tax forgiveness or uneven income. The form REV-1630 is required for those who did not meet estimated payment requirements.

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Click ‘Get Form’ to open the 2022 Underpayment of Estimated Tax by Individuals (REV-1630) in the editor.
Begin by entering your name as shown on PA-40 and your Social Security Number at the top of the form.
In Section I, calculate your underpayment. Start with Line 1a, entering your 2022 tax liability from Form PA-40. Then, multiply this amount by 0.90 for Line 1b.
Add amounts from Lines 13, 17, 21, 22, and 23 of Form PA-40 for Line 2. Subtract Line 2 from Line 1a for Line 3; if less than $246, you can stop here.
Continue filling out Lines 4 through 10 based on your calculations to determine any underpayment or overpayment.
Proceed to Section II to check for exceptions to interest penalties. Complete the Exception Worksheets as needed.
Finally, calculate interest in Section III if no exceptions apply. Follow the instructions carefully for accurate calculations.

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Why does TurboTax say I have an underpayment penalty?

This happens if youre required to make estimated tax payments but dont pay enough during one or more of your payment periods. The IRS requires you to pay a minimum amount each quarter, calculated using either the regular or annualized income installment method.

Why am I getting charged an underpayment penalty?

An underpayment penalty is a charge the IRS imposes on taxpayers who did not pay all of their estimated income taxes for the year or paid their taxes late. Youll face an underpayment penalty if you: Didnt pay at least 90% of the tax on your current-year return or 100% of the tax shown on the prior years return.

What is the IRS form for underpayment of estimated taxes?

Purpose of Form Use Form 2210 to see if you owe a penalty for underpaying your estimated tax. The IRS will generally figure your penalty for you and you should not file Form 2210.

Why am I being charged an underpayment penalty on my taxes?

An underpayment penalty is a charge the IRS imposes on taxpayers who did not pay all of their estimated income taxes for the year or paid their taxes late.

How do I remove the penalty from TurboTax?

You can go to Federal Taxes tab or Personal tab, under Other Tax Situations and select Start by the Underpayment Penalties. You will answer a series of questions that may reduce or eliminate the penalty. Or you can elect to have the IRS figure the penalty for you.

pennsylvania rev 1630

2022 estimated tax payments by state rev-1630 2021 2022 estimated tax payments due date underpayment penalty 2020 estimated taxes 2021 quarterly tax dates

Why is TurboTax saying I owe an underpayment penalty?

An underpayment penalty is incurred because you paid too little in the tax year that you are currently filing (2024). So, having filed everything correctly in 2023 does not cause or stop you from receiving a penalty in the next tax year.

How do I get rid of underpayment penalties?

The IRS will waive your underpayment penalty if you: Didnt pay because of a casualty, disaster, or other unusual circumstance that would be unfair to impose the penalty, or. You retired (after docHubing age 62) or became disabled in the current or prior tax year and: You had a reasonable cause for not making the payment.

What is PA Rev 1630?

REV-1630 IN (EX) MOD 03-24. The estimated underpayment penalty is an interest penalty for the failure to make estimated tax payments or the failure to make estimated tax payments in the correct amount.