Line 26—Estimated Tax Penalty

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Line 26—Estimated Tax Penalty

If line 27 is at least $1,000 and more than 10% of the tax shown on Form 1041, or the estate or trust underpaid its 2012 estimated tax liability for any payment period, it may owe a penalty. See Form 2210 to determine whether the estate or trust owes a penalty and to figure the amount of the penalty.

Note.

The penalty may be waived under certain conditions. See Pub. 505, Tax Withholding and Estimated Tax, for details.