RI-2210C: Underpayment of Estimated Tax by Composite Filers (2024)
Rhode Island · RI Division of Taxation · Used for tax years 2024
Rhode Island Form RI-2210C helps composite filers determine whether their 2024 income tax was sufficiently prepaid through withholding or estimated tax payments. It calculates any underpayment and related interest and includes an annualized income installment worksheet.
Who files this form
Composite-filing entities use Form RI-2210C to determine whether their Rhode Island income tax was sufficiently prepaid through withholding or estimated payments. An underpayment may result in an interest charge.
Complete Part 1 first to see whether a charge can be avoided:
- If line 4 is $250 or less, you owe no charge and do not need to complete the rest of the form.
- If line 6 is zero, you owe no charge and do not need to complete the rest, but you must attach the form to your Rhode Island return.
- If Part 3, line 16 is at least as much as line 15 for every installment period, do not complete or file this form unless you report annualized income installments on line 14.
When it's due
For tax year 2024, the form's payment-date columns show April 15, 2024; June 15, 2024; September 15, 2024; and January 15, 2025. However, the accompanying text includes a special 2024 extension: payment due dates from April 15, 2024 through June 15, 2024 were extended to July 15, 2024.
For calendar-year taxpayers, that text directs you to use this 2024 installment schedule:
- Column A: Leave blank.
- Column B: July 15, 2024.
- Column C: September 15, 2024.
- Column D: January 15, 2025.
The 2024 shortcut calculation also uses April 15, 2025 to determine whether the interest amount is reduced for earlier payment.
What you'll need
Have these forms and figures available:
- Your 2024 Form RI-1040C, including line 11 for income tax and lines 12, 13 and 14 for estimated payments and withholding.
- Your 2023 Form RI-1040C, line 11, for prior-year Rhode Island income tax. The text says to enter zero on RI-2210C, line 5 if you had no federal tax liability for 2023.
- The amounts and dates of your estimated tax payments and withholding for the installment calculations.
- Your actual taxable income for the periods shown in Part 5, if you use the annualized income installment worksheet.
Enter the name shown on Form RI-1040C and your federal employer identification number.
How to file
Attach Form RI-2210C to your Rhode Island return. Enter the underestimating interest from Part 2, line 12, or Part 4, line 22, on Form RI-1040C, line 18.
The supplied text does not provide a mailing address or e-file directions.
Common mistakes
- Overlooking the special 2024 directions. Calendar-year taxpayers are told to leave Column A blank and allocate 50% to Column B, 25% to Column C and 25% to Column D for both line 13 and withholding on line 16.
- Working across columns too soon. Complete Part 3, lines 15 through 17, for one column before moving to the next. In Part 5, complete lines 23 through 33 for one column before moving on.
- Annualizing only some installments. If you complete and use line 14 for any installment, you must complete and use it for all installments. Check the box indicating that you are using the annualization of income method.
- Omitting a required attachment when line 6 is zero. You may stop the calculation, but the text still requires you to attach the form to your Rhode Island return.
Questions people ask
Can I use the shortcut method?
Yes, if you made no estimated payments, or all four estimated payments were equal and paid by the appropriate due dates. You also must not have completed Part 5. Otherwise, complete Parts 3 and 4 to figure the interest.
How is the required annual payment calculated?
Part 1, line 6 uses the smaller of 80% of your 2024 Rhode Island income tax or your 2023 Rhode Island income tax. The text directs you to enter zero for the prior-year amount if you had no federal tax liability for 2023.
What if my income varies during the year?
You may complete the annualized income installment worksheet in Part 5. If you use its result on line 14 for one installment, you must use it for every installment.
How is withholding assigned to installment periods?
Withholding is treated as paid evenly during the year unless you can show otherwise. For tax year 2024, calendar-year taxpayers are specifically told to leave Column A blank and enter 50% of total withholding in Column B, 25% in Column C and 25% in Column D.