Instructions For Form Mi-1040 printable pdf download

GENERAL INSTRUCTIONS

Use this form to see if you owe penalty and interest for

You may avoid penalty and interest and should not file

failing to make estimated payments or for underpaying the

this form if:

estimated tax due. You can be charged interest (and

1. You had no tax liability for 1999 (if you had to file), or

possibly penalty) if your payment was low or late in any

you were not required to file a 1999 return and your

quarter. This is true even if you are due a refund when you

1999 federal tax return was for a full 12 months.

file your tax return. The interest and penalty are figured

2. The total tax on your 2000 return minus the amount you

separately for each due date. So you could still owe interest

paid in withholding and all your credits is $500 or less.

and penalty even if you made up an earlier underpayment

3. The amounts of tax withheld and timely estimated tax

with an overpayment later.

payments made in equal installments equal at least

Because this is a complicated form, you may choose to

90 percent of the tax due in 2000 or 100 percent of the

have Treasury compute your interest and penalty and send

tax due in 1999, unless the installment due in any period

you a bill instead of filing the form yourself. If you want

is paid later than the due date of that installment.

Treasury to figure your interest, complete your MI-1040

4. No penalty is charged if estimates were not required in

form as usual, leaving the interest line blank and do not

the immediately preceeding year, however interest may

attach form MI-2210. Interest computed on this form and

still be due.

penalty charged for failing to file or underpaying estimates

Special rules for farmers, fishermen and seafarers.

will be the same regardless of whether you pay with your

return or if Treasury bills you.

Do not file this form if BOTH of these apply:

1. Your gross income from farming, fishing or seafaring is

If you annualize your income, you must complete the

at least 2/3 of your annual gross income for 1999 or

MI-2210 form and the annualization worksheet, and attach

2000, AND

them to your Michigan annual tax return (individual or

2. You filed your MI-1040 and paid the entire tax due by

fiduciary). Individual income tax filers must check the box

March 1, 2001.

on MI-1040, line 35a and enter the amount of interest

computed on that line. Fiduciary income tax filers must

If you need to file estimated tax, request a 2001 Michigan

check the box on MI-1041, line 26 and enter the amount of

estimated income tax formset (MI-1040ES for individuals,

interest computed on that line.

MI-1041ES for fiduciaries), by calling 1-800-FORM-2-ME

(367-6263). Forms are also available from your local

Treasury field office.

LINE-BY-LINE INSTRUCTIONS

Before completing Part 1, add MI-1040 lines 30, 31 and 32.

Line 9: If you did not receive your income evenly

Subtract this sum from MI-1040, line 27. If the result is

throughout the year, you may annualize your income. See

$500 or less, do not complete this form. For MI-1041

the instructions and worksheet on this form. The sum of the

subtract line 22 from line 21. If the result is $500 or less,

four installments must equal the lowest of:

do not complete this form.

• 90 percent of the tax shown on your 2000 tax return,

FISCAL-YEAR FILERS: Change due dates and interest

• 100 percent of the tax shown on your 1999 tax return,

rates to correspond with your tax year.

• 108 percent of the tax shown on your 1999 return if AGI

Part 1. FIGURING THE UNDERPAYMENT

was $150,000 for joint filers or $75,000 for single filers.

Line 5: Figure your 1999 tax from your 1999 return. On

Line 10: Enter the estimated tax payments you made plus

the MI-1040 form, subtract the sum of lines 32 and 33 from

any withholding. Note:

line 27 and enter here. Fiduciaries, enter the amount from

MI-1041, line 21.

• One-fourth of your total withholding is considered paid

on each due date unless you can document the dates the

Line 6: Figure your 2000 tax. On the MI-1040 form,

tax was withheld.

subtract the total of lines 30 and 31 from line 27 and enter

here. Fiduciaries, enter the amount from MI-1041, line 21.

(Continued on back.)

Instructions For Form Mi-1040

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