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IRSOther IRS Forms (2000–3999)

Official form guide

Form 2220: Underpayment of Estimated Tax by Corporations

IRS Form 2220 is used to determine if corporations are subject to the penalty for underpayment of estimated tax and to state the amount of that penalty. Corporations must include an estimated tax penalty on Line 34 of Form 1120, even if it is zero.

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Form Overview

IRS Form 2220 - Underpayment of Estimated Tax by Corporations

IRS Form 2220 is used to determine if corporations are subject to the penalty for underpayment of estimated tax and to state the amount of that penalty. Corporations must include an estimated tax penalty on Line 34 of Form 1120, even if it is zero.

Part I determines whether a corporation is subject to the penalty and calculates the required annual payment. Part III figures the underpayment for specific installment due dates, and Part IV helps determine the final penalty amount.

Risk Radar

Scan points
  • 1If line 3 on Part I is less than $500, the corporation will not owe a penalty, but it must still be reported correctly.
  • 2Failing to include an estimated tax penalty amount on Line 34 of Form 1120.
  • 3Not completing Form 2220 when the Part I, line 3 amount is $500 or more and installment methods are used.
  • 4Incorrectly checking boxes in Part II regarding installment methods (seasonal/annualized).
  • 5Omitting Schedule A completion when using both adjusted seasonal and annualized income installment methods.

Plain English

This form helps corporations figure out if they owe a penalty because they did not pay enough tax throughout the year. It calculates the exact amount of that underpayment penalty for the applicable period. Corporations use this to report their estimated tax situation on their main income tax return.

Submission Date

  • Filing date: 2025-12-11 09:10:41
  • Preparation window: collect IDs, supporting records, and signatures in advance.
  • Final review: verify names, dates, and required fields before submission.

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Glossary Terms

income taxincomefinal

Hover a term to preview the meaning.

What this form is for

  • Use this form when a corporation needs to determine if it owes an underpayment penalty or the amount of that penalty.
  • Do not use this form when the corporation is not subject to a penalty because the tax shown on its 2025 return (Part I, line 3) is less than $500.
  • Check Form 1120 instead when determining the required annual payment amount or reporting the final penalty.

Form selector

Use this form or another form?

Using only adjusted seasonal installment

This method requires checking the box in Part II, line 6.

✓ Ensure Schedule A is completed.

Schedule A (Parts I & III)

Using both methods (adjusted and annualized)

If using both, check boxes in Part II, lines 6 AND 7.

✓ Verify all three sections of Schedule A are present.

All three parts of Schedule A

Corporation is large & figuring first installment on prior year's tax basis

This dictates when the corporation must file even if no penalty exists, provided Part I, line 3 $\ge$ $500.

✓ Confirm the definition of 'large corporation' aligns with your situation.

Part II, line 8 (and associated instructions)

Deadline or filing window

A corporation generally does not have to file Form 2220 unless its Part I, line 3 amount is $500 or more and specific installment methods are used. If filing is required, the form must accompany the corporate income tax return due date. The instructions do not specify a general extension window for this form.

Checklist

What you need before filling it out

1

Purpose of Form

Determine if subject to penalty & determine amount · General Instructions (p.1)

⚠ Filing without this form might result in a penalty notice requiring abatement.✕ Medium
2

Filing Requirement Threshold

Part I, line 3 must be $\ge$ $500 AND one of the three conditions applies · General Instructions (p.1)

⚠ If Part I, line 3 is less than $500, filing is generally not required.✕ Low
3

Penalty Exception Rule

Tax shown on Form 2220, Part I, line 3 must be less than $500 · General Instructions (p.1)

⚠ The corporation will not have to pay a penalty if this threshold is met.✕ Low
4

Reporting Penalty Amount

Line 38 amount from Form 2220 · Form 2220 (p.1)

⚠ This figure must be entered on the estimated tax penalty line of the corporation's income tax return.✕ Medium
5

Required Payment Calculation Basis

Regular installment under section 6655(d)(1) increased by recapture · Instructions (p.2)

⚠ If using only regular installments, ensure any reduction in required installment from section 6655(e)(1)(B) is added to the base amount.✕ Medium

Before you submit

  1. 1Complete Part I, lines 1 through 3.
  2. 2If Part I, line 3 is $500 or more, complete the rest of Part I to determine the required annual payment.
  3. 3Determine which installment method(s) are used (adjusted seasonal, annualized, regular).
  4. 4Check the appropriate box in Part II, lines 6 and/or 7 based on methods used.
  5. 5Complete Schedule A according to the checked boxes in Part II (Parts I & III for adjusted only; Parts II & III for annualized only; all three parts for both).
  6. 6If more than one payment is made, attach a separate computation for each required installment.
  7. 7Ensure the final penalty amount from Line 38 is ready to be transferred to Form 1120.

How to file this form

  1. 1Complete Part I, lines 1 through 3 of Form 2220, noting the total tax liability.
  2. 2If Part I, line 3 equals $500 or more, complete the remainder of Part I to find the required annual payment amount.
  3. 3Determine which installment methods are used and check the corresponding boxes in Part II (lines 6 and/or 7).
  4. 4Complete Schedule A based on the checked boxes in Part II, ensuring all necessary parts are filled out.
  5. 5Attach a separate computation if more than one payment was made for a required installment.
  6. 6If applicable, attach a penalty computation for any underpayment period extending beyond the latest date listed in Part IV, line 35, and include this amount in Line 38.
  7. 7Sign and submit Form 2220 along with the corporation's income tax return.

Known limitations

  1. 1Generally, a corporation is not required to file Form 2220 because the IRS calculates and bills any penalty owed.
  2. 2Affected corporations may exclude the Corporate Alternative Minimum Tax (CAMT) liability when calculating the required annual payment on Form 2220 for tax years beginning in 2025.
  3. 3If a section 338(a)(1) sale is included in the tax amount used on Line 1, that specific tax amount must be excluded from line 1 unless a section 338(h)(10) election was made.
  4. 4For Tax-Exempt Organizations and Private Foundations, taxable income entered on Line 21 cannot include de minimis extraordinary items chosen to be included on Line 23b.

Field map

Compact field-by-field guide

6 fields

General Info

2 items

Taxpayer Name and TIN

Full legal name and taxpayer identification number (SSN or EIN).

Requiredtext
Address

Current mailing address.

Requiredtext

Details

2 items

Required Information

Complete all applicable sections of this form according to the official IRS instructions.

Requiredtext
Amount (if applicable)

Enter the relevant dollar amount if this form involves tax calculation.

amount

Certification

1 items

Certification Statement

Read and acknowledge any certifications required by this form.

Requiredcheckbox

Signatures

1 items

Signature

Sign and date. Unsigned forms cannot be processed.

Requiredsignature
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Current form status
IRS

The current edition is 20/25, and readers should check IRS.gov/Form2220 for the latest information regarding Form 2220 instructions.

What changed or needs a fresh check

  • Edition date — confirm the revision reads 20/25.
  • OMB No. — confirm it is 1545-0123.
  • Required attachment for fiscal year underpayment extending past Part IV, line 35 — confirm a separate computation is attached.
  • Line 34 reporting requirement — confirm the penalty amount from Form 2220, Part I, line 38 will be entered on Form 1120.

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Form 2220 page 1

Page 1

Form 2220 page 2

Page 2

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Quick Facts

Corporations (including S corporations), tax-exempt organizations subject to the unrelated business income tax, and private foundations must file Form 2220.
Part I determines whether a corporation is subject to the penalty and calculates the required annual payment. Part III figures the underpayment for specific installment due dates, and Part IV helps determine the final penalty amount.
The form must be completed and attached to the corporation's tax return when filing. Installment due dates are generally the 15th day of the 4th, 6th, 9th, and 12th months of the tax year.
The instructions do not specify a single service center address for routing; rather, it requires attachment to the corporation's income tax return. The form is filed with the corporation's main return (e.g., Form 1120).
Failure to follow the instructions could result in affected corporations receiving a penalty notice that will require an abatement request to apply the relief.
First, complete Part I, lines 1 through 3. If line 3 is $500 or more, complete the rest of Part I before moving to Part II. Next, check the applicable box(es) in Part II and complete Schedule A as required. Finally, complete Part III to find the underpayment amount before calculating the penalty in Part IV.

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After you file

  1. 1Keep a copy of the filed Form 2220.
  2. 2If using Form 2220 to calculate the penalty, enter the amount from Page 2, Line 38 onto the estimated tax penalty line of the corporation’s income tax return.
  3. 3Confirm that affected corporations include an estimated tax penalty amount on Line 34 of Form 1120 (or other appropriate return), even if it is zero.
  4. 4If filing for a tax year beginning in 2025 and you are an 'affected corporation,' ensure the IRS waives the penalty under section 6655 for failure to make estimated tax payments attributable to CAMT.

Sources

  • SRCInstructions p.1 — Purpose: Corporations determine if they are subject to the penalty for underpayment of estimated tax and the amount of that penalty.
  • SRCInstructions p.1 — New Development (2025): For tax years beginning in 2025, the IRS waives the penalty imposed under section 6655 for failure to make estimated tax payments attributable to a CAMT liability if the corporation is 'affected.'
  • SRCInstructions p.1 — Specific Instruction: Affected corporations must include an estimated tax penalty amount on Line 34 of Form 1120, even if that amount is zero.
  • SRCInstructions p.2 — Line 1 Detail: Generally, enter the tax from Form 1120, line 31 (or applicable line for other returns) on Line 1 of Form 2220.
  • SRCInstructions p.4 — Base Period Percentage: The base period percentage for May–October 2025 is 70% because the average of 69%, 74%, and 67% is 70%.
  • SRCForm p.1 — Filing Requirement: Form 2220 attaches to the corporation’s tax return, and OMB No. 1545-0123 / 20 25 is noted.
  • SRCForm p.2 — Due Date Calculation: The due date for installment payments (Line 19) is generally the payment date or the 15th day of the 4th month after the tax year ends.

Common confusion points

What do I enter on Line 1 if my total tax includes a Section 338(a)(1) sale?

You must exclude that specific tax amount from line 1 and write 'Sec. 338 gain' on the line, showing the amount in brackets next to it.

→ Check Form 2220, Part I, Line 1.

Do I need to adjust Line 1 if my total tax includes CAMT?

Yes, you must exclude that amount from line 1 and write 'CAMT' on the line, showing the amount in brackets next to it.

→ Check Form 2220, Part I, Line 1.

What is the base period percentage for May–October 2025?

The base period percentage for May–October 2025 is 70% (0.70), derived from averaging percentages from prior years.

→ Check Instructions p.4.

When calculating installments, what do I exclude on Line 2 if I have extraordinary items?

Do not include the de minimis items that you chose to include separately on Line 9b.

→ Check Form 2220, Part I, Line 2.

How is the due date calculated for installment payments (Line 19)?

Generally, use the payment date or the 15th day of the 4th month after the tax year ends; C corporations ending June 30 use the 3rd month instead.

→ Check Form 2220, Page 2, Line 19.

If I am a corporation but don't have any underpayment penalty, do I still file?

Yes, affected corporations must still file Form 2220 even if they owe no estimated tax penalty.

→ Check Instructions p.1.

Workflow map

Related forms and next steps

4 signals

Before

Form 990-PF or Form 990-T — These form filers use a different month calculation (5th month instead of 4th) when determining installment due dates on Form 2220, Page 2.

Current

2220

After

Form 1120 (Line 34) — The penalty calculated on Form 2220 is entered onto this line for the corporation's income tax return.

Often used with

Form 1120 (U.S. Corporation Income Tax Return) — Used to determine the total tax amount for Line 1 of Form 2220.Form 1120, Schedule J — Provides CAMT information that may need to be excluded from Line 1 of Form 2220.

Questions about IRS Form 2220

What is IRS Form 2220 used for?

This form helps corporations figure out if they owe a penalty because they did not pay enough tax throughout the year. It calculates the exact amount of that underpayment penalty for the applicable period. Corporations use this to report their estimated tax situation on their main income tax return.

Who must file IRS Form 2220?

Corporations (including S corporations), tax-exempt organizations subject to the unrelated business income tax, and private foundations must file Form 2220.

What information does IRS Form 2220 require?

Part I determines whether a corporation is subject to the penalty and calculates the required annual payment. Part III figures the underpayment for specific installment due dates, and Part IV helps determine the final penalty amount.

When is IRS Form 2220 due?

The form must be completed and attached to the corporation's tax return when filing. Installment due dates are generally the 15th day of the 4th, 6th, 9th, and 12th months of the tax year.

Where do I file IRS Form 2220?

The instructions do not specify a single service center address for routing; rather, it requires attachment to the corporation's income tax return. The form is filed with the corporation's main return (e.g., Form 1120).

How do I complete IRS Form 2220?

First, complete Part I, lines 1 through 3. If line 3 is $500 or more, complete the rest of Part I before moving to Part II. Next, check the applicable box(es) in Part II and complete Schedule A as required. Finally, complete Part III to find the underpayment amount before calculating the penalty in Part IV.

What happens if IRS Form 2220 is filed incorrectly?

Failure to follow the instructions could result in affected corporations receiving a penalty notice that will require an abatement request to apply the relief.

What do I enter on Line 1 if my total tax includes a Section 338(a)(1) sale?

You must exclude that specific tax amount from line 1 and write 'Sec. 338 gain' on the line, showing the amount in brackets next to it. Check Form 2220, Part I, Line 1.

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Public DomainCreated by the U.S. federal government. Not subject to copyright (17 USC § 105). Freely copyable without restriction.
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