Form It-20s - S Corporation Income Tax Booklet - Indiana Department Of Revenue - 2005 Page 10
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19Line 21. Enter total penalty due. Penalty is ten (10) percent
Certification of Signatures and Authorization Section
of the amount (but not less than $5) of any composite tax due
Be sure to sign, date, and print your name on the return.
on line 19 paid after the fifteenth (15) day of the third (3) month
If a paid preparer completes the return, you may authorize the
following the end of the corporation’s taxable year. If a
Department to discuss your tax return with the preparer by
composite tax is due because of failure to withhold on income
checking the [yes] Authorization Box above signature line.
distributions to nonresident shareholders, a penalty of twenty
(20) percent will be added. (See caution note on line 20 above.)
Please mail completed returns with a filled-in 2-D bar code
Penalty, which equals the greater of: ten (10) percent of the
to:
amount of use tax and Schedule B tax on line 19, or $5, is still
Indiana Department of Revenue
due on those taxes paid after the original due date of the return.
P.O. Box 7231
If a return showing no liability on line 22 is filed late, penalty
Indianapolis, IN 46207-7231
for failure to file by the due date will be $10 per day the return
is past due, up to a maximum of $250. If tax on line 19 exceeds
All other prepared returns must be mailed to:
$1000, add any underpayment of estimated tax penalty
Indiana Department of Revenue
computed on Schedule IT-2220 or attach completed schedule
100 N Senate Ave.
to show exception to this penalty.
Indianapolis, IN 46204-2253
There is also a separate $10 penalty for filing IT-20S
Schedule IN K-1 information return late.
For Other Indiana Department of Revenue Forms:
Line 22. Amount due: If line 19 is greater than zero, add lines
19, 20, and 21, and attach a separate remittance for total
Internet Address -
amount owed for each Form IT-20S filed. Payment to the
Department of Revenue must be made in U.S. funds.
Our homepage provides access to forms, information
bulletins and directives, tax publications, e-mail, and
Line 23. Overpayment: If the total of lines 17 and 18 exceeds
various filing options.
line 16, subtract lines 20 and 21 from line 19. If the result is
less than zero, this is your net overpayment. Note: If penalties
Tax Forms Order Line - (317) 615-2581
and interest are due because of delinquent filing or payment,
the overpayment must be reduced by these charges. If the
result is a balance due, enter the difference on line 22.
Line 24. Enter the amount from line 23 to be refunded.
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