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West Virginia Underpayment of Estimated Tax by Individuals:
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Extracted from PDF file 2024-west-virginia-form-it210.pdf, last modified December 1969Underpayment of Estimated Tax by Individuals:
IT-210 Worksheet Underpayment of Estimated Tax by Individuals This publication provides general information and is not meant to be a substitute for tax laws or regulations. Who Must Pay the Underpayment Penalty? You maybechargedapenaltyifyoudidnothaveenoughWestVirginiastateincometaxwithheldfromyourincomeor ay enough estimated tax by any of the due dates. This may be trueevenifyouareduearefundwhenyoufileyour p return. The penalty is computed separatelyforeachquarterlyduedate.Youmayoweapenaltyforanearlierduedate (quarter) even if you make large enough payments later to make up the underpayment. You may owe the penalty if you did not pay at least the smaller of: . 9 1 0% of your prior year tax liability; or 2. 100% of your prior year tax liability (if you filed a prior year return that covered a full 12 months). Exceptions to the Penalty You will not have to pay any penalty if either of these exceptions apply: ou had $0 tax after credit for the prior tax year and meet ALL of the following conditions: 1. Y ● yourprioryeartaxreturnwas(orwouldhavebeenhadyoubeenrequiredtofile)forataxableyearoftwelve months; ● you were a citizen or resident of the United States throughout the preceding taxable year; ● your tax liability for the current year is less than $5,000. 2. ThetotaltaxshownonyourcurrentyearreturnminusthetaxyoupaidthroughWestVirginiawithholdingisless than $600. To determine if you meet this exception, complete lines 1 through 5, PART I. If you meet this exception, you do not have to file Form IT-210. IfyoufileyourtaxreturnandpayanytaxdueonorbeforeFebruary1,nofourthquarterpenaltyisdue.Includethetax aid with your return in column (d) of line 2, Part IV; this will result in no penalty due for the fourth quarter installment. p Special Rules for Farmers If at least two-thirds of your gross income for the current year was from farming sources, the following special rules apply: ou are only required to make one payment for the taxable year (due January 18 of each year). . Y 1 2. The amount of estimated tax required to be paid (line6)issixty-sixandtwo-thirdspercent(66⅔%)insteadof ninety percent (90%). 3. IfyoufailtopayyourestimatedtaxbyJanuary18,butyoufileyourreturnandpaythetaxdueonorbeforethe first day of March of each, no penalty is due. Markbox10inPARTIandcompleteonlycolumn(d)ofPartIVtofigureyourpenalty.WhenusingPartIV,carrytheentire figure shown on line 8 of PART I to column (d), line 1. Waiver of Penalty If you are subject to underpayment penalty, all or part of the penalty may be waived if the West VirginiaTaxDivision etermines that: d he penalty was caused by reason of casualty or disaster; . T 1 2. The penalty was caused by unusual circumstances which makes imposing the penalty unfair or inequitable. To request a waiver of the penalty, check the box for line 9 in PART I and encloseasignedstatementexplainingthe r easons you believe thepenaltyshouldbewaived.Ifyouhavedocumentationsubstantiatingyourstatement,enclosea copy. The Division will notify you if your request for waiver is not approved. Page1of9 Underpayment of Estimated Tax by Individuals Instructions Feb 2024 | West Virginia Tax Division Part I - For All Filers LINE 1 Enter the amount from line 8 of Form IT-140. LINE 2 Add the amounts shown on lines 9, 16, 17, 18,and line 19 of Form IT-140. LINE 3 Subtract line 2 from line 1 and enter the result. LINE 4 Enter the amount of withholding tax shown online 14 of Form IT-140. LINE5 S ubtractline4fromline3andentertheresult.Ifline5islessthan$600,youarenotsubjecttothepenaltyand need not file form IT-210. LINE6 M ultiply line 3 by ninety percent (90%) and enter the result. If you are a qualified farmer, multiply line 3 by sixty-six and two-thirds percent (66 ⅔%). LINE7 E nter your tax after credits from your prior year West Virginia tax return. Your tax after credits will be line 8 reduced by lines 9, 17, 18 and 19 of Form IT-140. LINE8 C omparetheamountsshownonlines6and7.Ifline7iszeroandline3ismorethan$5,000,entertheamount shown on line 6. Otherwise, enter the smaller of line 6 or line 7. Part II - Annualized Income Worksheet LINE1 .Calculateyourtotalincomethroughtheperiodindicatedatthetopofeachcolumn. Includeanyadjustmentsto income in your federal adjusted gross income LINE 3 ANNUALIZED INCOME. Multiply the amount on line1 by the annualization factors on line 2. LINE4 W EST VIRGINIA MODIFICATIONS TO INCOME. Enter the full amount ineachcolumnofanymodificationto federaladjustedgrossincomewhichwouldbeallowedonyourcurrentyearWestVirginiaPersonalIncomeTax Return. Do not annualize this line. Be sure to show any negative figures. LINE5 W EST VIRGINIA ADJUSTED GROSS INCOME. Add lines 3 and 4; annualized income plus or minus modifications. LINE6 E XEMPTION ALLOWANCE. Multiply the number of exemptions you claimed on your return by$2,000;ifyou must claim zero exemptions, enter $500 on this line. LINE 7 WEST VIRGINIA TAXABLE INCOME. Subtract line6 from line 5. LINE8 A NNUALIZEDTAX.Usethetaxtablesorrateschedulestodetermineyourtaxontheincomeshownonline7.If youarefilingasanonresident/part-yearresident,multiplythetaxfigurebytheratioofyourWestVirginiaincome to your federal income. LINE9 C REDITSAGAINSTTAX.ShowanycreditsagainstyourWestVirginiataxliabilityexceptWestVirginiaincome tax withheld and estimated tax payments. LINE 10 TAX AFTER CREDITS. Subtract line 9 from line8; if line 9 is larger than line 8, enter zero. LINE 12 REQUIRED PAYMENTS. Multiply the amount online 10 by the factor on line 11. LINE 13Enter the amounts from Line 12, Columns 1-3in each column on this line. LINE 14 Subtract line 13 from line 12. If less thanzero, enter zero. LINE 15 Enter one-fourth of line 8, Part I, of FormIT-210 in each column. LINE 16 Enter the amount from line 18 of the previouscolumn of this worksheet. LINE 17 Add lines 15 and 16 and enter the total. LINE 18 Subtract line 14 from line 17. If less thanzero, enter zero. LINE19 REQUIREDINSTALLMENT.Comparelines14and17andenterthesmallerfigurehereandonline1,PartIVof Form IT-210. Page2of9 Underpayment of Estimated Tax by Individuals Instructions Feb 2024 | West Virginia Tax Division Part III - Short Method You may use the short method to figure your penalty only if: 1. You made no estimated tax payments (or your only payments were West Virginia income tax withheld); or 2. You paid estimated tax and the payments were made in four equal installments on the due dates. OTE: If any of your payments were made earlier thantheduedate,youmayusetheshortmethodtocalculateyour N penalty; however, using the short method may cause you to pay a higher penalty. You may NOT use the short method if: 1. You made any estimated tax payments late; or 2. You checked the box on line 11 PART I, or used PART II (Annualized Income Worksheet). If you use the short method, complete lines 1 through 5 to compute your total underpayment for theyearandlines6 through 8 to compute your penalty due. PART IV - Regular Method Use the regular method to compute your penalty if you are not eligible to use the short method. Section A – Calculate Your Underpayment LINE1 E nterincolumns(a)through(d)theamountofyourrequiredinstallmentfortheduedateshownineachcolumn heading.Formosttaxpayers,thisistheamountshownonline8ofPARTIdividedbyfour.IfyouusedPARTII, enter the amounts from line 19 of the Annualized Income Worksheet in the appropriate columns. LINE2 P lease read the following instructions carefully. Enter the estimated tax payments you made plus any West Virginia income tax withheld from your income. In column (a), enterallcreditcarriedoverfromyourprioryeartaxreturn,anywithholdingearnedonorbefore April 15, of this year,andanyestimatedtaxpaymentsyoumadeonorbeforeApril15forthecurrentyeartax year. Incolumn(b),enterthewithholdingearnedandestimatedpaymentsmadeafterApril15andonorbeforeJune 5. 1 In column (c), enter the withholding earned and any estimated payments you made after June 15 and onor efore September 15. b In column (d), enter the withholding earnedandestimatedpaymentsyoumadeafterSeptember15andonor efore January 15. b When calculating the amounts to enter on line 2 of each column, apply the following rules: For West Virginia income tax withheld, you areconsideredtohavepaidone-fourthoftheseamountsoneach ayment due date, unless you check the box on line 11 in Part I and show otherwise. p IncludeinyourestimatedtaxpaymentsanyoverpaymentfromyourprioryearWestVirginiataxreturnthatyou electedtoapplytoyourcurrentyearestimatedtax.Ifyoufiledyourreturnbytheduedate(includingextensions), treat the overpayment as a payment made on April 15. If you file yourreturnandpaythetaxdueonorbeforeFebruary1,includethetaxyoupaywithyourreturnin c olumn (d) of line 2. In this case, you will not owe a penalty for the payment due January 18. LINE 3 Enter any overpayment from the previous columnon line 3. LINE 4 Add lines 2 and 3 in each column and enterthe result on line 4. LINE 5 Add lines 7 and 8 from the previous columnand enter the result in each column. LINE6 S ubtractline5fromline4ineachcolumnandentertheresulthere.Ifline5isequaltoormorethanline4inany column, enter zero in that column. LINE 7 Subtract line 4 from line 5 for any columnwhere line 5 is more than line 4; otherwise, enter zero. Page3of9 Underpayment of Estimated Tax by Individuals Instructions Feb 2024 | West Virginia Tax Division LINE8 S ubtractline6fromline1foranycolumnwhereline1ismorethanline6;otherwise,enterzero.Ifline8iszero for all payment periods, you do not owe a penalty. LINE9 S ubtractline1fromline6foranycolumnforwhichline6ismorethanline1;otherwise,enterzero.Besureto enter the amount from line 9 on line 3 of the next column. Section B – Compute Your Penalty omputethepenaltybyapplyingtheappropriaterateagainsteachunderpaymentonline8.Thepenaltyiscomputedfor C the number of days that the underpayment remains unpaid. The annual rate can be found inTSD 365. or January 1, 2023 to December 31, 2023 the rate is 11.5%. The resultant daily rate of 0.000315 is applied to all F underpayments. or January 1, 2024 to December 31, 2024 the rate is 13%. The resultant daily rate of 0.000356 is applied to all F underpayments. seline10tocomputethenumberofdaystheunderpaymentremainsunpaid.Useline12tocomputetheactualpenalty U amount by applying the daily rate for tha quarter to the underpayment for the number of days it was unpaid. achpaymentmustbeappliedtotheoldestoutstandingunderpayment.Itdoesnotmatterifyoudesignateapaymentfor E alaterperiod.Forexample,ifyouhaveanunderpaymentforSeptember15installmentperiod,thepaymentyoumakeon January18,2024willfirstbeappliedtopayofftheSeptember15underpayment;anyremainingportionofthepayment will be applied to the January 18 installment. Also, apply the following rules: ● S howtheWestVirginiawithholdingtaxattributabletoeachregularinstallmentduedate;donotlistthewithholding attributable on or after January 1. ● A ny balance due paid onorbeforetheduedatewithyourpersonalincometaxreturnisconsideredapayment and should be listed on line 2, column (d). For thepaymentdate,usethedateyoufileyourreturn,orthedue date, whichever is earlier. hart of Total Days Per Rate Period C Rate Period Column Line 10 Q1 (a) 364 Q2 (b) 306 Q3 (c) 214 Q4 (d) 92 lended Daily Rate B 0.000327 0.000329 0.000335 0.000356 For example, if you have an underpayment on line 8, column (a), you would enter 368 in column (a) of line 10. he following line-by-line instructions apply only to column (a) of Section B.Ifthereisanunderpaymentshowninany T other column on line 8, complete lines 10 through 12 in a similar fashion. LINE10 Enterincolumn(a)thetotalnumberofdaysfromtheduedateoftheestimatedpaymenttotheduedateofthe return.ForExample: Ifyouhaveanunderpaymentonline8,columna,youwouldenter364incolumn(a)ofline 10. LINE 11 The daily penalty rate is equal to the annualinterest rate applied to tax underpayments divided by 365. For Example: The annual interest rateforunderpaymentsis11.5%forcalendaryear2023,resultinginadaily rate of .000315, and is 13.0% for calendar year 2024, resulting in a daily rate of 0.000356. Iftheestimated payment remained unpaid until the due date of the return, the average blended daily rate of 0.000327(see above) would apply. LINE12 Makethecomputationrequestedandentertheresult.Notethatthecomputationcallsforthe“underpaymenton line 8”. The amount to use as the “underpayment” depends on whether or not a payment is listed. Ifthereisapayment–ifthepaymentismorethantheunderpayment,applyonlyanamountequaltotheunderpayment andapplytheremaindertothetaxdueforthenextquarter.Ifthepaymentislessthanyourunderpayment,thepenaltyfor Page4of9 Underpayment of Estimated Tax by Individuals Instructions Feb 2024 | West Virginia Tax Division theremainingunderpaymentwillrequireaseparatecomputation.Useaseparatesheetofpapertoshowanyadditional computations. If there are no payments– the “underpayment” is theentire amount shown on line 8. The following conditions determine if additional computations are needed for Column (a): The first payment was enough to reduce the underpayment to zero. There are no further computations for c olumn (a). Nopayments.Onlyonecomputationisneeded.Thepenaltyforcolumn(a)isline8multipliedbythenumberof ays until the due date multiplied by line 11. d hepaymentdidnotreducetheunderpaymenttozero.Computethepenaltyontheremainingunderpaymenton T a separate sheet of paper. If additional payments apply, reduce the underpayment for each installment and compute the penalty on the remainder of tax due until paid or the due date, whichever is earlier. Enter the total penalty calculation on line 12 and proceed to the next column. olumns(b)through(d): Tocompletecolumns(b)through(d),usethesameproceduresasforcolumn(a).However, C apply only those payments in each column which have not been used in a previous column. LINE 13 Add all figures from line 12. Page5of9 Underpayment of Estimated Tax by Individuals Instructions Feb 2024 | West Virginia Tax Division IT-210 UNDERPAYMENT OF ESTIMATED TAX BY INDIVIDUALS PART I: ALL FILERS MUST COMPLETE THIS PART 1. Enter your tax as shown on line 8 of Form IT-140 ....................................................................................... 2. Enter the credits against your tax from your return (See Instructions) ............ 2 4 .00 3 .00 5 .00 .00 3. Tax after credits (subtract line 2 from line 1) .......................................................................................................... 4. Tax withheld .................................................................................................... 1 .00 5. Subtract line 4 from line 3 ....................................................................................................................................... IF LINE 5 IS LESS THAN $600, DO NOT COMPLETE THIS FORM. YOU ARE NOT SUBJECT TO THE PENALTY. 6. Multiply line 3 by ninety percent (.90) .............................................................. 6 .00 7. Enter the tax after credits from your prior year return (see instructions) ........ 7 .00 8. Enter the smaller of line 6 or line 7 (if line 7 is zero and line 3 is more than $5,000, enter the amount shown on line 6) 8 .00 9. If you are requesting a waiver of the penalty calculated, check here and attach your written request ………………………................................ 10. If you are a qualified farmer , check here Also check the QUALIFIED FARMER box on the IT-140 return ............................................................ 11. If you used Part IV to apply the tax withheld to the period when the corresponding income was actually received rather than in equal amounts on the payment due dates, check here............................................................................................................................... REFER TO THE INSTRUCTIONS TO DETERMINE YOUR OPTIONS FOR CALCULATING THE AMOUNT OF UNDERPAYMENT PENALTY. Page6of9 Underpayment of Estimated Tax by Individuals Instructions Feb 2024 | West Virginia Tax Division IT-210 UNDERPAYMENT OF ESTIMATED TAX BY INDIVIDUALS ART II: IF YOU ARE USING THE ANNUALIZED INCOME WORKSHEET P O COMPUTE YOUR UNDERPAYMENT AND PENALTY, COMPLETE THE WORKSHEET BELOW. T ANNUALIZED INCOME WORKSHEET January 1 - March 31 .00 1. Federal adjusted gross income year-to-date.......... 2. Annualized amounts............................................... January 1 - May 31 4 anuary 1 - J August 31 .00 2.4 January 1 - December 31 .00 1.5 .00 1 3. Annualized income (line 1 X line 2)........................ .00 .00 .00 .00 4. West Virginia Modifications to income (see instructions) ................................................... .00 .00 .00 .00 5. West Virginia adjusted gross income (combine lines3 and 4) .00 .00 .00 .00 6. Exemption allowance............................................. .00 .00 .00 .00 7. West Virginia taxable income (see instructions) .00 .00 .00 .00 8. Annualized tax........................................................ .00 .00 .00 .00 DO NOT INCLUDE TAX WITHHELD OR ESTIMATED PAYMENTS! .00 .00 .00 .00 10. TAX AFTER CREDITS. Subtract line 9 from line 8 (if less than zero, enter zero) .00 .00 .00 .00 9. Credits against tax................................................. 11. Applicable percentage...................................... 12. REQUIRED PAYMENTS. Multiply line 10 by line 11................................ 22.5% 45% .00 13. Add the amounts in all previous columns of line 19 67.5% 90% .00 .00 .00 .00 .00 .00 14. Subtract line 13 from line 12(if less than zero, enter zero) .00 .00 .00 .00 15. Enter ¼ of line 8, Part I, of Form IT-210 in each column ………..................................................... .00 .00 .00 .00 .00 .00 .00 .00 16. Enter the amount from line 18 of the previous column of this worksheet...................................... 17. Add lines 15 and 16 and enter total...................... .00 .00 .00 18. Subtract line 14 from line 17 (if less than zero, enter zero) .00 .00 .00 19. Enter the smaller of line 14 or line 17 here and on Form IT-210, Part IV, line 1 ......................... .00 .00 .00 NOTE: The sum of all columns for line 19 should equal line 8, Part I, of IT-210. Page7of9 Underpayment of Estimated Tax by Individuals Instructions Feb 2024 | West Virginia Tax Division .00 IT-210 Underpayment of Estimated Tax by Individuals PART III SHORT METHOD ead the instructions to see if you can use the short method. R If you checked BOX 11 of PART I or annualized in PART II skip this part and go to PART IV. 1. Enter the amount from line 8 of Part I of IT-210 ............................................................................................................. 1 .00 4. Add lines 2 and 3............................................................................................................................................................ 4 .00 5. Total underpayment for the year (subtract line 4 from line 1). If zero or less, stop here. No penalty due ........................ 5 .00 6. Multiply line 5 by0.081089............................................................................................................................................. 6 .00 8 .00 2. Enter the amount from line 4, Part I ......................................................................... 2 .00 3. Enter the total, if any, of the estimated payments made ......................................... 3 .00 7. If the amount on line 5 was paid on or after the due date, enter zero. If paid prior to the due date, multiply line 5 by the number of days it was paid before the due date. Then multiply this total by the rate .............................................................. 7 .00 8. Penalty due (subtract line 7 from line 6) …………………………………………………………………………………….. Page8of9 Underpayment of Estimated Tax by Individuals Instructions Feb 2024 | West Virginia Tax Division IT-210 UNDERPAYMENT OF ESTIMATED TAX BY INDIVIDUALS PART IV REGULAR METHOD (a) April 15* SECTION A – FIGURE THE UNDERPAYMENT 1. If you are using the annualized method, enter the amounts from line 19 of the Annualized Income Worksheet; otherwise, enter 1/4 of line 8 of PART I in each column..................................................... (b) June 15* (c) September 15* (d) January 15* 1 .00 .00 .00 .00 2. Estimated tax paid and tax withheld (see instructions). For column (a) only, enter the amount from line 2 on line 6. If line 2 is equal to or more than line 1 for all payment periods, stop here; you 2 do not owe any penalty.......................... .00 .00 .00 .00 NOTE: Complete Lines 3 through 9 before going to the next column. 3. Enter the amount, if any, from line 9 of the previous column.................................................. 3 .00 .00 .00 4. Add lines 2 and 3................................................. 4 .00 .00 .00 5. Add lines 7 and 8 of the previous column............ 5 .00 .00 .00 6. Subtract line 5 from line 4. If zero or less, enter zero. For column (a) only, enter the amount from line 2............................................................ 6 .00 .00 .00 .00 7. If line 6 is zero, subtract line 4 from line 5. Otherwise, enter zero.......................................... 7 .00 .00 .00 .00 8. UNDERPAYMENT. If line 1 is equal to or more than line 6, subtract line 6 from line 1, enter the result here and go to line 3 of the next column. Otherwise, go to line 9......................................... 8 .00 .00 .00 .00 9. OVERPAYMENT. If line 6 is more than line 1, subtract line 1 from line 6, enter the result here and go to line 3 of the next column..................... 9 .00 .00 .00 .00 SECTION B – FIGURE THE PENALTY NOTE: Complete Lines 10 through 12 for each column before going to the next column 10. Number of days FROM the date shown at the top of the column TO the date the amount on line 8 10 was paid, or 4/15, whichever is earlier 11. Daily penalty rate for each quarter (See page 4 for rates) 11 12. Penalty due for each quarter (line 8 x 10 x 11)..... 12 (a) April 15 (b) June 15 .00 (c) September 15 .00 13. Penalty due (add all amounts on line 12) …………………………………………………………………………. (d) January 15 .00 .00 13 .00 *The exact closingday of each quarter may shift to accommodate weekends or holidays as permitted by code. If unsure, please contact the West Virginia Tax Division to determine the payment deadlines for a certain tax year. Page9of9 Underpayment of Estimated Tax by Individuals Instructions Feb 2024 | West Virginia Tax Division
Form IT210
More about the West Virginia Form IT210 Individual Income Tax Estimated TY 2024
If you failed to pay or underpaid your estimated taxes for the past tax year, you must file form IT-210 to calculate any interest or penalties due with your return.
We last updated the Underpayment of Estimated Tax by Individuals: in February 2025, so this is the latest version of Form IT210, fully updated for tax year 2024. You can download or print current or past-year PDFs of Form IT210 directly from TaxFormFinder. You can print other West Virginia tax forms here.
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TaxFormFinder has an additional 75 West Virginia income tax forms that you may need, plus all federal income tax forms.
| Form Code | Form Name |
|---|---|
| Schedule M | Modifications to Adjusted Gross Income |
| Income Tax Booklet | West Virginia Income Tax Instructional Booklet |
| Form IT140 Schedule A | Schedule of Income for Non- or Part-Year-Residents |
| Form IT140 4868 | Application for Extension of Time to File |
| Form IT-140ESI | West Virginia Estimated Tax Instructions |
View all 76 West Virginia Income Tax Forms
Form Sources:
West Virginia usually releases forms for the current tax year between January and April. We last updated West Virginia Form IT210 from the Department of Revenue in February 2025.
Form IT210 is a West Virginia Individual Income Tax form. While most taxpayers have income taxes automatically withheld every pay period by their employer, taxpayers who earn money that is not subject to withholding (such as self employed income, investment returns, etc) are often required to make estimated tax payments on a quarterly basis. Failure to make correct estimated payments can result in interest or penalties.
About the Individual Income Tax
The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.
Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!
Historical Past-Year Versions of West Virginia Form IT210
We have a total of eleven past-year versions of Form IT210 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
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