Adjusted Seasonal Installment Method

[erchess]

Can anyone tell me about the Adjusted Seasonal Installment Method for computing estimated tax penalty? It is listed as an option in WWWTax ValuePak software as an option for an S Corp. I can tell that if I were to elect this method I would have to calculate the penalty outside the software and plug numbers in perhaps in addition to printing a form. ValuePak does not support efiling of business returns.

[Joe Btfsplk]

Form 2210

Can anyone tell me about the Adjusted Seasonal Installment Method for computing estimated tax penalty? It is listed as an option in WWWTax ValuePak software as an option for an S Corp. I can tell that if I were to elect this method I would have to calculate the penalty outside the software and plug numbers in perhaps in addition to printing a form. ValuePak does not support efiling of business returns.

Since an S Corp is a pass-through entity, there would not normally be any tax on the S Corp, but the S Corp might be a seasonal business, so the owner(s) would need to file Form 2210 to minimize or eliminate any underpayment penalty.

[erchess]

So far so good but.....

But what is the Seasonal Adjusted method and where in the Tax Book, IRS materials or the RIA handbook can I learn about it. All I can find out about is the Annualized Income Method, which I believe that I understand fairly well, at least to the point that with a paper form I could work it out correctly and explain any penalty to my client.