Massachusetts Underpayment of Massachusetts Estimated Income Tax by Fiduciaries

Underpayment of Massachusetts Estimated Income Tax by Fiduciaries
Form M-2210F
Massachusetts Department of Revenue

Form M-2210F
Underpayment of Massachusetts
Estimated Income Tax for Fiduciaries

2022

Enclose this form with your income tax return. Please print in ink or type.
Name(s) as shown on page 1 of return 	

Social Security or Federal Identification number

Exceptions to the underpayment penalty
	 ●	You are a qualified farmer or fisherman filing and paying your full amount due on or before March 1, 2023.
	 ●	You were a resident of Massachusetts for 12 months and not liable for taxes during 2021.
	 ●	Your estimated payments and withholding equal or exceed your 2021 tax (where taxable year was 12 months and a return was filed).

Part 1. Figuring your underpayment
1	 Enter 2022 tax. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1	
2	 Total credits. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2	
3	 Balance. Subtract line 2 from line 1. Not less than 0. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3	
4	 Enter 80% of line 3 or 66.67% of line 3 if you are a qualified farmer or fisherman. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4	
5	 Enter 2021 tax liability after credits (from 2021 return) (see instructions). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5	
6	 Enter the smaller of line 4 or line 5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6	
7	 Enter in col’s. a through d (respectively) the
installment dates of the 15th day of the 4th,
6th and 9th months of the taxable year and
	
the 1st month of the succeeding taxable
	 year. See instructions.. . . . . . . . . . . . . . . . . . . 7	

	
	
	

	
	

8	 Divide the amount in line 6 by the number
of installments required for the year. Enter
the result in the appropriate columns. . . . . . . 8	

	

9	 Estimated taxes paid and taxes withheld
for each installment. . . . . . . . . . . . . . . . . . . . . 9	

a.	

10	 Overpayment of previous installment. . . . . . . . . . . . . . . . . . . . . . . . . . 10	
11	 Total. Add lines 9 and 10. . . . . . . . . . . . . . . . 11	
12	 Overpayment. Subtract line 8 from line 11 . . 12	
13	 Underpayment. Subtract line 11 from line 8. 13	

b.	

c. 	

d.

2022 FORM M-2210F, PAGE 2
Name(s) as shown on page 1 of return 	

Social Security or Federal Identification number

Part 2. Figuring your underpayment penalty
14	 Enter the date you paid the amount in line
	
13 or the 15th day of the 4th month after
	
the close of the taxable year, whichever
	
is earlier. See instructions. . . . . . . . . . . . . . . 14	
15	 Number of days from the due date of
	
installment to the date shown in line 14 . . . . 15	
16	 Number of days in line 15 after 4/15/22
	
and before 7/1/22. . . . . . . . . . . . . . . . . . . . . 16	
17	 Number of days in line 15 after 6/30/22
	
and before 10/1/22 . . . . . . . . . . . . . . . . . . . . 17	
18	 Number of days in line 15 after 9/30/22
	
and before 1/1/23. . . . . . . . . . . . . . . . . . . . . 18	
19	 Number of days in line 15 after 12/31/22
	
and before 4/15/23 . . . . . . . . . . . . . . . . . . . . 19	
20	 Underpayment in line 13 × (number of
	
days in line 16 ÷ 365) × 5%. . . . . . . . . . . . . 20	
21	 Underpayment in line 13 × (number of
	
days in line 17 ÷ 365) × 6%. . . . . . . . . . . . . 21	
22	 Underpayment in line 13 × (number of
	
days in line 18 ÷ 365) × 7%. . . . . . . . . . . . . 22	
23	 Underpayment in line 13 × (number of
	
days in line 19 ÷ 365) × 8%. . . . . . . . . . . . . 23	
24	 Penalty. Add all amounts shown in lines 20 through 23. Enter this amount on Form 2, line 61 . . . . . . . . . . . . . . . . . . . . . . 24	

2022 FORM M-2210F, PAGE 3
Name(s) as shown on page 1 of return 	

Social Security or Federal Identification number

Part 3. Annualized income installment method
	
	

1	 Taxable 5.0% income each period
	
(including long-term capital gain
income taxed at 5.0%) . . . . . . . . . . . . . . . . . . 1	

Jan. 1–March 31	

2	 Annualization amount. . . . . . . . . . . . . . . . . . . 2	 	4	

Jan. 1–May 31	

Jan. 1–August 31 	

Jan. 1–December 31

2.4	

1.5	

1

2.4	

1.5	

1

3	 Multiply line 1 by line 2. . . . . . . . . . . . . . . . . . 3	
	

4	 Tax on amount in line 3.
Multiply line 3 by .05. . . . . . . . . . . . . . . . . . . . 4	
5	 Taxable 12% income each period. . . . . . . . . . 5	
6	 Annualization amount. . . . . . . . . . . . . . . . . . . 6	 	4	
7	 Multiply line 5 by line 6. . . . . . . . . . . . . . . . . . 7	

	

8	 Tax on amount in line 7.
Multiply line 7 by .12. . . . . . . . . . . . . . . . . . . . 8	
9	 Total tax. Add lines 4 and 8. . . . . . . . . . . . . . . 9	

10	 Total credits. . . . . . . . . . . . . . . . . . . . . . . . . . 10	
11	 Total tax after credits. Subtract line 10
	
from line 9. . . . . . . . . . . . . . . . . . . . . . . . . . . 11	
12	 Applicable percentage . . . . . . . . . . . . . . . . . 12	 	20%	
13	 Multiply line 11 by line 12 . . . . . . . . . . . . . . . 13	
14	 Enter the combined amounts of line 20
	
from all preceding periods. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14	
15	 Subtract line 14 from line 13.
	
If less than 0 enter 0. . . . . . . . . . . . . . . . . . . 15	
16	 Divide line 6 of Form M-2210F by 4
	
and enter result in each column. . . . . . . . . . 16	
17	 Enter the amount from line 19 of this worksheet
	
for the preceding column . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17	
18	 Add lines 16 and 17 . . . . . . . . . . . . . . . . . . . 18	
19	 If line 18 is more than line 15, subtract
	
line 15 from line 18. Otherwise enter 0. . . . . 19	
20	 Enter the smaller of line 15 or line 18
	
here and on Form M-2210F, line 8 . . . . . . . . 20	

40%	

60%	

80%

2022 Form M-2210F Instructions
General Information

Who should use this form. If you are a fiduciary receiving income
taxable at the entity level, you should use Form M-2210F to determine
if your 2022 estimated and/or withholding tax payments were sufficient.
If they were not, an underpayment penalty will be imposed, unless you
qualify for one of the exceptions or waivers explained below.
When are estimated tax payments due? Generally, your estimated
tax must be paid in full on or before April 15, or in equal installments
on or before April 15; June 15; September 15; and January 15 of the
next year. If your tax year is not on a calendar year basis, the due dates
correspond with your fiscal year. Your due dates will be the 15th day of
the fourth, sixth and ninth months of your fiscal year and the 15th day of
your next fiscal year. Whenever a due date falls on a Saturday, Sunday
or legal holiday, the payment may be made on the next succeeding
business day.
Filing estimated tax vouchers. You are required to file estimated tax
vouchers if you reasonably expect to pay more than $400 in Massachusetts
income tax on income which is not covered by withholding.
For further information regarding estimated taxes, see the instructions
for Form 2-ES Payment Vouchers or the publication Should You Be
Paying Estimated Taxes?

Line-by-Line Instructions

Figuring your underpayment & penalty. To determine the underpayment
amount, complete lines 1 through 13, in order of installment due
dates, taking care to complete all four columns for lines 7 through 13.

Line 1
Enter total tax for 2022. Based on what return has been filed, refer to
Form 2, line 41 or Form M-990T-62, line 29.

Line 2
Enter total credits for 2022. Based on what return has been filed, refer to
Form 2, lines 46, 55 and 56, or Form M-990T-62, lines 32 and 40.
Line 5
• If you filed a return for 2021 and it was for a full 12 months, enter your
2021 tax liability after credits.
• If you were a resident of Massachusetts for 12 months in 2021 and
you were not liable for taxes, enter 0.
• If you did not file a return for 2021, or if your 2021 tax year was less
than 12 months, do not complete line 5. Instead, enter the amount
from line 4 in line 6.

Line 9

Exceptions which avoid the penalty. No underpayment penalty will
be imposed if:

If more than one payment is made for a given installment, attach a separate penalty computation for each payment.

• Your 2021 tax due after credits and withholding is $400 or less.

If you had any taxes withheld during the year, you may apply an equal
part of those taxes as payment on each required installment. If you
can establish the actual dates and amounts of your withholding, you
may consider those amounts as payments on the dates they were actually withheld.

• You were a qualified farmer or fisherman who filed and paid in full
with your return by March 1, 2022. To qualify, your gross income from
farming or fishing must be at least two-thirds of the annual gross income
shown on your 2021 or 2022 return.
• You were a resident of Massachusetts for the full 12 months of the
previous taxable year and were not liable for taxes.
• Your 2022 estimated payments and withholding (line 8) made on or
before each installment due date in the taxable year equal or exceed
the tax shown on your 2021 return divided among the four installment
due dates provided that such return was for a full 12-month period.
If you qualify for an exception, do not complete lines 14 through 24. Instead, check the appropriate box on the front of this form and fill in the
“EX” oval on Form 2. Enclose this form with your return. If you qualify
for the first exception (your 2022 tax due after credits and withholding
is $400 or less) you do not need to complete this form.
Waiver of underpayment penalty. A waiver of underpayment penalty
for one or more installments may be granted if:
• Your underpayment was by reason of casualty, disaster or unusual
circumstance; or
• You retired in 2021 or 2022 after reaching age 62, or you became
disabled and your underpayment was due to reasonable cause and
not willful neglect.
If you qualify for the waiver, complete lines 7 through 13 for the installment
for which you are claiming a waiver, and write “WAIVER” in the
appropriate box in line 14. Fill in the “EX” oval on Form 2. Enclose this
form and an explanation of your reasons for claiming the waiver with
your return.

Line 12
If line 12 shows an overpayment, that overpayment may be used as
payment of any existing underpayment amount. Overpayments used
as payments of prior underpayment amounts do not de crease the actual
underpayment amount but serve to reduce instead the period of
underpayment subject to penalty. If there are no existing underpayment
amounts, the overpayment is applied as a credit against the next
installment.

Line 13
If line 13 shows an underpayment, see the General Information section
to determine whether you qualify for an exception to, or waiver of,
the underpayment penalty. If you do not qualify, continue on through
line 24 to determine your underpayment penalty.

Part 3. Annualized income installment method.
If you do not receive taxable income evenly throughout the year, you may
wish to annualize your income to adjust your required installment amount.
Enter any adjusted installment amount in the appropriate column in line 8
and calculate any underpayment penalty from those figures. Write
“ANNUALIZED” under the column in line 24.
Lines 16 through 23
Fiscal year taxpayers. If you file on a fiscal year basis and are subject
to an underpayment penalty, attach a separate statement to calculate
the penalty due based on the interest rate in effect for the period of the
underpayment.