Instructions For Form 221 - Underpayment Of Estimated Tax By Individuals - 2014 Page 4
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If Yo
ou Listed a Pa
ayment in Tab
ble 1
TABL
LE 3
On a
a separate she
eet of paper,
apply the pay
yment to the
Payments
s after 9/30/201
14 through 12/3
31/2014
unde
erpayment show
wn on line 15.
. The underpay
yment for the
Date
Paym
ment
comp
putation on lin
e 18 is the amo
ount of the pay
yment applied
to the
e line 15 under
rpayment. If th
he payment is m
more than the
under
rpayment, apply
y only an amou
unt equal to the
underpayment
and u
use that amoun
nt for the line 1
8 computation
n.
If Yo
ou Did Not Lis
st Any Payme
ents in Table 1
1
The u
underpayment
is the whole u
underpayment
balance since
the e
entire underpa
ayment was u
unpaid for the
e whole rate
TABL
LE 4
perio
od.
Payments
s after 12/31/20
014 through 4/
15/2015
Dete
ermine if You
Need to Make
e More Comp
utations
Date
Paym
ment
Use
the following
information t
to see if you n
need to make
more
e computations
s.
1. T
The payment
t listed in
the table
reduced the
u
underpayment
to zero. You
u do not need
to make any
f
further compu
utations for c
column (a). C
Calculate the
p
penalty for any
y other underp
payments show
wn in columns
(
(b) through (d)
) of line 15.
List
t only the paym
ments made dur
ring the dates s
shown in the
2. Y
You did not l
list any payme
ents in the tab
ble. You will
tabl
le heading. App
ply the followi
ing rules.
n
need to calcula
ate the penalty
for rate period
ds 2, 3, and 4.
1.
If you have
any withheld
d Arizona inc
come tax, the
e
T
To do this, com
mplete column
n (a) of lines 2
20, 21, 23, 24,
department c
considers you
to have paid
d ¼ of these
e
2
26, and 27.
amounts on e
each payment d
due date. You m
may treat these
e
3. T
The payment
listed in the
table did no
ot reduce the
amounts paid
d on a differen
nt due date, if
you can show
w
u
underpayment
to zero, and n
no other payme
ents are listed.
otherwise.
M
Make another
computation o
on lines 20, 21
1, 23, 24, 26,
For example,
, if you had $4
4,000 of Arizo
ona income tax
x
a
and 27 to cal
lculate the pen
nalty on the u
underpayment
withheld duri
ing 2014, list $
$1,000 as being
g paid on June
e
b
balance that re
emained unpai
d for the entir
re rate period.
16, 2014, Sep
ptember 15, 20
014, and Januar
ry 15, 2015, in
n
I
In this case, en
nter another nu
umber in the en
ntry space for
the proper tab
ble. Do not list
t the withholdi
ing attributable
e
l
lines 17 and 18
8, as follows:
to the first pa
yment due date
e April 15, 201
14.
O
On line 17, en
nter "76". This
is the total nu
umber of days
2.
List any amo
ount that you p
pay with your
tax return as a
a
i
in the first rate
e period (see th
he chart).
payment. Use
e the date you fi
file your return
as the payment
t
O
On line 18, m
make the compu
utation and en
nter the result.
date, unless
you file late.
In that case,
use April 15,
,
T
The "underpay
yment" in this
computation i
is the balance
2015.
o
of the underpay
yment remaini
ing in the perio
od.
Ch
hart of Total D
Days per Pe
eriod
4. O
Other paymen
nts are listed
in the table
and the first
p
payment was n
not enough to r
reduce the und
derpayment to
If a
an underpayme
ent remained u
unpaid for an
entire period,
,
z
zero. Make a
separate com
mputation for e
each payment
use
the chart below
w to determine
e the number o
of days to enter
r
l
listed until the
underpayment
t is reduced to
zero. If there
on l
line 17, column
ns (a) and (b),
line 20, colum
mns (a), (b), and
d
i
is still an unde
erpayment bala
ance after apply
ying all of the
(c),
line 23, colum
mns (a), (b), a
and (c), and lin
ne 26 columns
s
p
payments, you
u will need to c
calculate the p
penalty on the
(a),
(b), (c), and (d
d).
b
balance of the
e underpayme
ent in the sam
me manner as
Ra
ate Period
(a)
(b
)
(c)
(d)
e
explained in nu
umber 2 above
e.
1
(line 17)
76
14
4
Rate
e Periods 2,
3, and 4
2
(line 20)
92
92
2
15
3
(line 23)
92
92
2
92
If an
n underpayme
ent balance re
emains after a
applying any
4
(line 26)
105
10
5
105
90
paym
ments in Table
1, compute the
e penalty attrib
butable to that
balan
nce on lines 20
0 and 21, then i
if necessary, on
n lines 23 and
For
r example, if
you have an
underpaymen
nt on line 15,
,
24 an
nd 26 and 27.
colu
umn (a), but sh
how no paymen
nts, you would
d enter "76" on
n
line
e 17.
Use t
the same steps
s as explained
under Rate Pe
eriod 1 above,
but u
use the date an
nd penalty rate
e shown on line
es 20 and 21,
Ra
ate Period 1
or lin
nes 23 and 24,
or lines 26 and
d 27.
Ent
ter on line 17 t
the number of
f days from 4/
15/2014 to the
e
When figurin
ng the penalty f
for rate period
d 2, be sure to
date
e of the first p
payment listed
in Table 1. I
If no payments
s
use only the p
payments listed
d in Table 2.
are
listed, enter "7
76".
4
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