Instructions For Form 221 - Underpayment Of Estimated Tax By Individuals - 2014 Page 3
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prop
per column. Y
You did not hav
ve to make pay
yments in four
r
NOT
TE: If line 12 eq
quals or is mor
re than line 11 i
in all columns,
equ
ual installments
s if you made
your payment
s under any of
f
you d
do not owe a pe
enalty. Do not c
complete the res
st of this form.
You m
must include a c
copy of this form
m with your ret
turn.
the
following met
hods.
Line
es 13 thro
ough 15 -
Overpaym
ments or
1. T
The annualize
ed income inst
tallment meth
hod. If you use
e
Und
derpaymen
nts
t
the annualized
income instal
llment method
d, complete the
e
w
worksheet on F
Form 221, pag
ge 2. Also, ent
ter the amount
t
Com
mplete lines 13 t
through 15 for
r one payment p
period before
fr
rom line 23 of
f that workshee
et in each colu
umn of line 11
.
you g
go to the next p
period.
If
f you use the a
annualized inco
ome installmen
nt method, you
u
If yo
ou have an ove
erpayment on
line 15 for th
e period, you
m
must check the
box on line 11
.
may
apply it to a
a prior period
underpaymen
nt to stop the
2. F
File and pay
by January
31, 2015. If
you file your
r
accru
ual of penalty
on that unde
erpayment. If y
you apply an
A
Arizona return
n by January 3
31, 2015, and p
pay in full the
e
overp
payment in thi
is manner, use
e the date the
overpayment
a
amount stated
on the return
as payable, yo
ou do not have
e
was p
paid when you
u figure the pe
enalty on the u
underpayment
t
to make the f
fourth estimate
ed tax paymen
nt. Fiscal year
r
on li
ine 15. You
may then ca
arry the rema
ainder of the
f
filers must fil
le and pay by
y the last day
of the month
h
overp
payment forwa
ard to line 13 o
of the next peri
iod. If you do
f
following the c
close of the fis
cal year.
not
choose to sto
op the accrua
al of penalty
y on a prior
unde
erpayment, yo
ou may carry
y the entire
overpayment
3. F
Farmer or fi
isherman. If
you report as
s a farmer or
r
forwa
ard to line 13 o
of the next peri
iod.
f
fisherman for f
federal purpose
es, you only hav
ve to make one
e
i
installment for
r a taxable y
year. The due
date for this
s
Part
t B - Underp
payment of E
Estimated Ta
ax Penalty
i
installment for
r a calendar yea
ar filer was Jan
nuary 15, 2015
.
T
The due date f
for a fiscal yea
ar filer is the 1
15th day of the
e
Com
mpute the penal
lty by applying
g the applicabl
e rate to each
f
first month aft
fter the end of
f the fiscal yea
ar. You do not
t
unde
erpayment. Com
mpute the pena
alty for the nu
umber of days
h
have to make t
this payment if
f you file your
Arizona return
n
that
the underpaym
ment remained
d unpaid. Th
he penalty is
o
on or before M
March 1, 2015
, and pay in fu
full the amount
t
equal
l to the interes
st that would ac
ccrue on the un
nderpayment.
stated on the re
eturn as payabl
le. Fiscal year
filers must file
e
The p
penalty cannot
t be more than
n 10% of the un
nderpayment.
a
and pay on or
before the first
t day of the thi
ird month after
r
Calcu
ulate this pena
alty like interes
t.
t
the end of the f
fiscal year.
NOT
TE: Do not rou
und penalty am
mounts calcula
ated in Part B,
4. N
Nonresident a
alien. If you ar
re an individua
al who elects to
o
lines
18, 21, 24, an
nd 27 to the nea
arest whole dol
llar.
b
be treated as a
a nonresident
alien on the f
federal income
e
t
tax return, you
u may make th
hree estimated p
payments. The
e
The p
penalty rates a
are established
at various tim
mes during the
d
due dates for
these installm
ments were Ju
une 16, 2014,
,
year.
. The rate for t
the first quarte
er of 2015 (Jan
nuary 1, 2015,
September 15
, 2014, and J
January 15, 2
015. The first
t
throu
ugh March 31,
2015) was not
t established by
y the time the
i
installment mu
ust have equal
ed 50% of the
e total required
d
depar
rtment printed
d this form. T
To get the inte
erest rate that
p
payments.
appli
ies from Janua
ary 1, 2015 to
April 15, 201
5, call one of
Lin
ne 12 - Est
imated Tax
x Paid and
d Withheld
the n
numbers listed
on page 1 of th
hese instruction
ns.
Ent
ter the estima
ated tax paym
ments you m
made plus any
y
NOT
TE: If you have
e not paid the u
underpayment
by December
Ariz
zona income ta
ax withheld for
r that quarter.
31,
2014, the ou
utstanding pen
nalty that rel
lates to that
unde
erpayment will
compound on
January 1, 201
15.
In c
column (a), ent
ter the tax paym
ments you mad
de by April 15,
,
201
4, that were f
for the 2014 ta
ax year. In col
umn (b), enter
r
Use l
lines 16 throug
gh 29 to compu
ute the penalty
y for each rate
pay
yments you ma
de after April
15 through Jun
ne 16, 2014. In
n
perio
od. List your p
payments to fi
igure the penal
lty applicable
to the
ese installment
ts.
colu
umn (c), enter
r payments you
u made after J
June 16, 2014,
,
thro
ough Septembe
er 15, 2014. In
n column (d), e
enter payments
s
TABLE
E 1
you
u made after Sep
ptember 15, 20
14, through Jan
nuary 15, 2015.
Payments
after 4/15/201
4 through 6/30
0/2014
Wh
hen figuring yo
our payment da
ates and the am
mounts to enter
r
Date
Paym
ment
on l
line 12 of each
h column, apply
y the following
g rules.
1.
Include ¼ of
your Arizona
income tax wi
ithheld in each
h
column. The
department co
onsiders you to
o have paid ¼
¼
of Arizona in
ncome tax wit
thheld on each
h payment due
e
date unless yo
ou can show ot
therwise.
2.
Include in y
our estimated
tax payments
s any Arizona
a
TABLE
E 2
overpayment
of tax from
your 2013 re
eturn that you
u
Payments
after 6/30/201
4 through 9/30
0/2014
elected to ap
pply to your A
Arizona 2014
estimated tax
.
You should re
eport this amou
unt in column
(a).
Date
Paym
ment
3.
If you file you
ur return and p
pay the tax due
by January 31
,
2015, include
e on line 12, co
olumn (d), the
amount of tax
x
you pay with
your return. In
n this case, yo
u will not owe
e
a penalty for
the payment du
ue by January
15, 2015.
3
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