What happens if the taxpayer owes an underpayment penalty, but does not compute it on Form 2210?

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The IRS will compute and assess the penalty. If a taxpayer fails to compute and pay an underpayment penalty on Form 2210, the IRS will calculate and assess the penalty. The penalty is based on the amount of underpayment and how long the tax was underpaid, so it is important for taxpayers to accurately calculate and pay the penalty to avoid additional fees and interest.

What Happens If the Taxpayer Owes an Underpayment Penalty, but Does