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INSTRUCTIONS FOR SCHEDULE K-210
If any due date falls on a Saturday, Sunday, or legal holiday, substitute the next regular work day.
WHO MAY USE THIS SCHEDULE This exception applies if the amount on line 7 exceeds the amount
on line 9a or 9b (as applicable). If you are a farmer or fisher, you will
If you are an individual taxpayer (including farmer or fisher), only complete the last column on line 9b.
use this schedule to determine if your income tax was fully paid
throughout the year by withholding and/or estimated tax payments. For example, to figure the first column, total your income from
If your 2016 tax due (line 18 of Form K-40 — DO NOT include January 1 to March 31, 2016 and multiply by 4. Subtract your
compensating tax from line 19 of the K-40), less withholding and tax deductions (standard or itemized) and your exemption allowance
credits (excluding estimated tax payments made) is $500 or more, amount. Using this net annualized income figure, compute the tax.
you may be subject to an underpayment of estimated tax penalty Multiply the tax by the percentage rate in the first column.
and must complete this form. Repeat these instructions for the remaining three columns, using
Taxpayers (other than farmers or fishers) are not required to the multiplication factors given above to annualize the income
make a payment for the January 15th quarter if a Form K-40 was for that period. Enclose a schedule showing your computation of
filed and the tax was paid in full on or before January 31, 2017. annualized income and tax amounts. If the amount on line 7 (for
Farmers and Fishers: If at least two-thirds of your annual gross each column) is equal to or greater than the amount on line 9a
income is from farming or fishing and you filed Form K-40 and (for each column), or line 9b, for farmers or fishers – no penalty
paid the tax on or before March 1, 2017, you may be exempt from is due and no further entries are required.
any penalty for underpayment of estimated tax. If exempt, write
“Exempt–farmer/fisher” on line 1 and do not complete the rest of PART II – FIGURING THE PENALTY
this schedule. If you meet this gross income test, but you did not file
LINE 10: Enter on line 10 the amount of underpayment of tax,
a return and pay the tax on or before March 1, 2017, you must use
which is the
this schedule to determine if you owe a penalty for underpayment lesser of one of the following computations:
of estimated tax. • Line 8 less line 7; or,
• Line 9a less line 7; or,
COMPLETING THIS SCHEDULE • Line 9b less line 7
Enter your name and your Social Security number in the space LINE 11: This line contains the due date of each installment for
provided at the top of this schedule. a calendar year taxpayer.
LINES 1 through 4: Complete these lines based on information LINE 12: The number of days on line 12 are precomputed for
on your income tax return for this tax year and last tax year. a calendar year taxpayer that made timely payments. If you did
If you did not file an income tax return for the prior tax year, or if you not make timely payments, you should disregard the precomputed
did file a return but your income tax balance (line 18, Form K-40) number of days on line 12 and compute the number of days on
was zero, then enter zero on line 3 of this schedule. each quarter to the date paid.
PART I – EXCEPTIONS TO THE PENALTY EXAMPLE: If you paid the 6/15/16 installment on 6/28/16 the
number of days to enter on line 12, column 2 will be computed
You are NOT subject to a penalty if your 2016 tax payments from 6/15/16 to 6/28/16, which equals 13 days. If you then
(line 7) equal or exceed the amounts for one of the exceptions (lines paid the next quarter timely at 9/17/16, the number of days
8 or 9a or 9b) for the same payment period. will be from 9/15/16 to 1/15/17, which equals the 122 days
LINE 5: Multiply the amount on line 4 by the percentage shown (107 already entered + 15).
in each column of line 5. LINE 13: The penalty rate begins in column 3 for a calendar
LINE 6: Enter the cumulative amount of timely paid estimated year taxpayer, therefore no entry is required in columns 1 and 2.
tax payment made in each quarter. For example, Column 3 will be The 15 days in the 3rd column are from 1/1/17 to 1/15/17. If you did
the total of your withholding and estimated tax payments made from not make timely payments, you should disregard the precomputed
January 1 through September 15, 2016. number of days on line 13 and compute the number of days on
each quarter to the date paid.
LINE 7: For each column, add lines 5 and 6 and enter the result
on line 7. • If you file your return prior to 1/15/17, enter in the third column
LINE 8: Exception 1 applies if the amount on line 7 of a column the number of days from 1/1/16 to the date filed and disregard
equals or exceeds the amount on line 8 for the same column. Multiply the precomputed number of days (15) entered on line 13.
line 2 or 3 (whichever is less) by the percentages shown in each • The fourth column must be completed by you. Enter the
column of line 8. If the amount on line 7 (for each column) is equal number of days from 1/15/17 to the date the return was filed
to or greater than the amount on line 8 (for each column) – no and paid.
penalty is due and no further entries are required. LINES 14 and 15: Penalty is computed to 12/31/16 at 4% and at
LINE 9: Exception 2 applies if your 2016 tax payments equal or 5% from 1/1/17 to the date the tax was paid, or 4/15/17, whichever
exceeds 90% (66 2/3% for farmers and fishers) of the tax on your is earlier.
annualized income for these 2016 periods: LINE 16: For each column, add lines 14 and 15 and enter the
January 1 – March 31 Multiply income by 4 result on line 16.
January 1 – May 31 Multiply income by 2.4 LINE 17: Add the amounts on line 16 together and enter the
January 1 – August 31 Multiply income by 1.5 result on line 17. Also enter this amount on Form K-40, line 31,
January 1 – December 31 Multiply income by 1 Estimated Tax Penalty.
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