IT-210: Underpayment of Estimated Tax by Individuals (2024)
West Virginia · WV Tax Division · Used for tax years 2024
West Virginia Form IT-210 is a worksheet for individuals to figure a penalty for underpayment of estimated income tax. It compares required payments with withholding and estimated tax payments and calculates any penalty due.
Who files this form
IT-210 figures the penalty for underpaying West Virginia individual estimated income tax. You may owe a penalty if you did not have enough tax withheld or pay enough estimated tax by each payment due date.
Complete Part I to check whether a penalty applies. If line 5 is less than $600, you are not subject to the penalty and do not need to file IT-210.
You also owe no penalty if you had $0 tax after credits for the prior year and all of these conditions apply:
- Your prior tax year covered 12 months.
- You were a U.S. citizen or resident throughout that year.
- Your current-year tax liability is less than $5,000.
When it's due
For tax year 2024, Part IV prints these installment dates: April 15, June 15, September 15, and January 15. The form warns that exact dates may shift for weekends or holidays and says to contact the West Virginia Tax Division if you are unsure.
The 2024 materials also state:
- Filing your return and paying the tax due by February 1 eliminates the fourth-quarter penalty.
- Qualified farmers have one estimated payment due January 18. If they miss that payment but file their return and pay the tax due by March 1, no penalty is due.
The supplied text is inconsistent about the January installment date: Part IV lists January 15, while some accompanying directions refer to January 18. No calendar year is printed beside these installment and relief dates.
What you'll need
Have these records available to complete the worksheet:
- Your current-year Form IT-140, including tax, credits, and withholding amounts.
- Your prior-year West Virginia return, including tax after credits and any overpayment applied to current-year estimated tax.
- Records of estimated tax payments, including amounts and payment dates.
- If using the annualized income worksheet, income totals for each listed period, adjustments, West Virginia modifications, exemptions, and credits.
For a penalty waiver, enclose a signed statement explaining your reasons. Include copies of supporting documentation if you have it. Use a separate sheet for additional penalty calculations when needed.
Common mistakes
- Assuming a refund means no penalty. A penalty can apply even when your return shows a refund. Later payments may not eliminate a penalty for an earlier quarter.
- Using the short method when it is not allowed. Do not use it if any estimated payment was late, you checked Part I box 11, or you used Part II. Early payments may produce a higher penalty under the short method.
- Including withholding or estimated payments as Part II credits. The worksheet specifically excludes them from line 9.
- Annualizing Part II income modifications. Enter the full modification in each column on line 4, without annualizing it, and show negative amounts.
- Skipping the column-by-column instructions. In Part IV, complete lines 3 through 9 before moving to the next column, and complete lines 10 through 12 for each column before moving on.
- Missing the farmer checkbox on IT-140. Qualified farmers must also check the QUALIFIED FARMER box on their IT-140 return.
Questions people ask
Can I owe a penalty even if I receive a refund?
Yes. The penalty is figured separately for each quarterly due date, so a refund or larger later payment does not necessarily eliminate an earlier underpayment penalty.
Can I request a waiver?
Yes. The Tax Division may waive all or part of the penalty for casualty, disaster, or unusual circumstances that make the penalty unfair or inequitable. Check Part I box 9 and enclose a signed explanation, plus supporting documentation if available. The Division will notify you if it does not approve your request.
Who qualifies for the special farming rules?
The special rules apply if at least two-thirds of your current-year gross income came from farming. Qualified farmers use 66⅔% instead of 90% on Part I line 6, check Part I box 10, and complete only column (d) of Part IV.
How is withholding assigned to payment periods?
Withholding is generally treated as paid one-fourth on each payment due date. To apply it to the periods when the corresponding income was actually received instead, check Part I box 11 and use Part IV.