Form 8804 - Penalty For Underpayment Of Estimated Section 1446 Tax By Partnerships - 2006

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Penalty for Underpayment of Estimated
Schedule A
OMB No. 1545-1119
(Form 8804)
Section 1446 Tax by Partnerships
2006
Department of the Treasury
Attach to Form 8804.
Internal Revenue Service
Name
Employer identification number
Note. Generally, the partnership is not required to file this Schedule A (see Part I below for exceptions) because the IRS will figure
any penalty owed and bill the partnership. However, the partnership may still use this Schedule A to figure the penalty. If so, enter
the amount from page 4, line 61 on line 8 of Form 8804, but do not attach this Schedule A.
Part I
Reasons for Filing—Check the boxes below that apply. If any boxes are checked, the partnership must
file Schedule A (Form 8804) even if it does not owe a penalty (see instructions).
The partnership is using the adjusted seasonal installment method.
The partnership is using the annualized income installment method.
The partnership had assets of $1 billion or more (determined as of the end of the preceding tax year)—see instructions.
Part II
Current Year and Prior Year Safe Harbors
1
Enter the total section 1446 tax shown on the partnership’s 2006 Form 8804, line 5e. If less than $500,
1
do not complete or file this form. The partnership does not owe the penalty
2
Enter the total section 1446 tax that would be due for 2006, without regard to partner certificates, computed
using the effectively connected taxable income (ECTI) allocable to foreign partners for 2005.
Caution: This line 2 amount only applies if certain conditions are met (see instructions)
2
3
Enter the smaller of line 1 or line 2. If the partnership is required to skip line 2, enter the amount from line 1
3
Part III
Figuring the Underpayment
(a)
(b)
(c)
(d)
4
Installment due dates. Enter in columns (a) through (d)
the 15th day of the 4th, 6th, 9th, and 12th months of the
4
partnership’s tax year
5
Required installments. If the partnership uses the
adjusted
seasonal
installment
method
and/or
the
annualized income installment method, enter the amounts
from line 43. If neither of those methods is used, enter
5
25% of line 3 above in each column
If the partnership had assets of $1 billion or
more (determined as of the end of the preceding
tax year), see the instructions for line 5 on page
6 before completing that line.
CAUTION
6
Estimated section 1446 tax paid or credited for each
period (see instructions). For column (a) only, enter the
6
amount from line 6 on line 10
Complete lines 7 through 13 of one column before
going to the next column.
7
7
Enter amount, if any, from line 13 of the preceding column
8
8
Add lines 6 and 7
9
9
Add amounts on lines 11 and 12 of the preceding column
10
10
Subtract line 9 from line 8. If zero or less, enter -0-
11
If the amount on line 10 is zero, subtract line 8 from line
11
9. Otherwise, enter -0-
12
Underpayment. If line 10 is less than or equal to line 5,
subtract line 10 from line 5. Then go to line 7 of the next
12
column. Otherwise, go to line 13
13
Overpayment. If line 5 is less than line 10, subtract line
5 from line 10. Then go to line 7 of the next column
13
Go to Part VII on page 4 to figure the penalty. Do not go to Part VII if there are no entries on line 12—no penalty is owed.
For Paperwork Reduction Act Notice, see page 7.
Schedule A (Form 8804) 2006
Cat. No. 40853F

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