Form Ri-2210 - Underpayment Of Estimated Tax By Individuals - 2006

RI-2210

2006

UNDERPAYMENT OF ESTIMATED TAX BY INDIVIDUALS

Name(s) shown on Form RI-1040 or RI-1040NR

Your Social Security Number

PART 1

REQUIRED ANNUAL PAYMENT

2006

1.

Enter your

RI income tax from RI-1040, line 15 less lines 18D and18E or RI-1040NR, line 15C less line 18E......................

1.

2.

Enter 80% of the amount shown on line 1.............................................................................................

2.

2006

3.

RI taxes withheld for

from RI-1040, line 18A or RI-1040NR, lines 18A, 18C and 18D............................................................

3.

4.

Subtract line 3 from line 1 -

(if the result is $250.00 or less do not complete the rest of this

form)...................................................

4.

2005

5.

5.

Enter your

RI tax from RI-1040, line 13 less line 18D or RI-1040NR, line 15 less line 18E....................................................

6.

Enter the SMALLER of line 2 or line 5...............................................................................................................................................

6.

PART 2

SHORTCUT METHOD

You can use this method if you meet the following conditions

(Otherwise, you must complete parts 3 and 4 to figure your underestimating

interest):

1

You made no estimated payments OR all 4 estimated payments were equal and paid by the appropriate due dates;

2

AND you did not complete RI-2210, part 5 (Annualized Income Installment Worksheet).

7.

Enter the amount from Part 1, line 6 above........................................................................................................................................

7.

8.

8.

Enter the total withholding and estimated tax you paid from RI-1040, lines 18A and 18B or RI-1040NR, lines 18A, 18B, 18C and 18D.

9.

9.

Underpayment - subtract line 8 from line 7.........................................................................................................................................

10.

Multiply line 9 by 10.7795% (.107795)................................................................................................................................................

10.

11.

If the amount on line 9 was paid on or after 4/15/07, then enter $0

If the amount on line 9 was paid before 4/15/07, then make the following calculation:

The amount on line 9 (times) the number of days paid before 4/15/07 (times) .00030 and enter the result here.....................

11.

12.

UNDERESTIMATING INTEREST - subtract line 11 from line 10 - enter here and in the space provided on RI-1040 or

12.

RI-1040NR, line 19..............................................................................................................................................................................

PAYMENT DUE DATES

PART 3

FIGURE YOUR UNDERPAYMENT

Column A

Column B

Column C

Column D

04/15/2006

06/15/2006

09/15/2006

01/15/2007

13.

Divide the amount on line 6 by four (4) and enter the results in each column..

13.

14.

Annualized income installments from part 5, line 33 NOTE:

Complete lines

14.

15 through 17 in one column before completing the next

column.....................

Enter the amount from line 13 or line 14 if applicable.......................................

15.

15.

16.

RI tax withheld and estimated tax paid

(If line 16 is equal to or more than line

15 for all installment periods, do not complete or file this form unless you

16.

report annualized income installments on line

14).............................................

17.

UNDERPAYMENT - Subtract line 16 from line 15 OR,

17.

OVERPAYMENT - Subtract line 15 from line 16................................................

PART 4

HOW TO FIGURE THE CHARGES

Column A

Column B

Column C

Column D

04/15/2006

06/15/2006

09/15/2006

01/15/2007

18.

Payment date or date listed in instructions for line 18, whichever is earlier......

18.

/

/

/

/

/

/

/

/

A.

Number of days from the installment date to date of payment or the due

19.

19A.

date of the next installment, whichever is earlier

(see

instructions)..........

days

days

days

Number of days on line 19A

X

X

B.

12%

underpayment on line 17...

19B.

365

20.

A.

Number of days from October 1, 2006 to the date of payment or January 15, 2007, whichever is earlier........

20A.

days

Number of days on line 20A

X

X

B.

18%

underpayment on line 17............................................................

20B.

365

21.

A.

Number of days from January 15, 2007 to the date of payment or April 15, 2007, whichever is earlier........................................

21A.

days

Number of days on line 21A

X

X

B.

18%

underpayment on line 17.........................................................................................

21B.

365

22.

UNDERESTIMATING INTEREST - Total amount from all columns on lines 19B, 20B and 21B

22.

Enter here and in the space provided on RI-1040 or RI-1040NR, line 19................................................................................................

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