Credit Calculation Worksheet & Instructions For 2006 Income Tax Return (Form Ir) - City Of Forest Park, Ohio Tax Division Page 3
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3EXTENSION POLICY:
If this return cannot be filed by April 16, 2007, you need to request an extension in writing by 4/16/07. We
recommend you use the Forest Park Extension Request Form. It provides a means to calculate any current
year tax due as well as the amount of the declaration of estimated tax for next year. The balance of current
year tax due and one-fourth of the estimated tax for next year must be paid with the extension request. Visit
our website at for additional information and to print the form.
NOTE:
Unless tax return is signed and accompanied by payment of the balance of the tax declared due (Line 8)
and at least one-quarter of the estimated tax (Line 13), this is not a legal final return or declaration.
INSTRUCTIONS FOR 2006 INCOME TAX RETURN (FORM IR)
-
Form IR and related instructions have been modified slightly to increase clarity.
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The 2005 Extension Request Form is available from the Tax Department or online
at .
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A Credit Calculation Worksheet is enclosed with the 2006 Income Tax Return
(Form IR).
Line No.
1
List employment and W-2 information requested. Attach Page 1 of Federal return and Form(s) W-2.
Total W-2 income (generally the Local Wage box of the Form W-2).
1A
2A, B, C
ATTACH COPIES OF APPLICABLE FEDERAL SCHEDULE(S).
BUSINESS LOSSES MAY NOT BE USED TO OFFSET WAGES. STARTING WITH 1998, LOSSES CAN BE CARRIED
FORWARD FOR FIVE (5) YEARS.
NOT TAXABLE: INTEREST, DIVIDEND, CAPITAL GAIN, PENSION & UNEMPLOYMENT INCOME
2D
EXAMPLES OF ITEMS WHICH MAY BE DEDUCTED:
*
Employee business expenses included in Line 1. ATTACH FEDERAL 2106 and SCHEDULE A as filed with IRS.
*
Income may be prorated for residents who moved into or out of Forest Park during 2006.
2E
Total Lines 2a through 2d.
3
Total Lines 1a and 2e. This is taxable income.
4
Multiply Line 3 by 1% (.01) Forest Park tax rate.
5A
Tax withheld by employer for Forest Park.
5B
Credit for tax paid to another City or County. This may not exceed credit limit of .5%. Credit must be adjusted for any refunds
from another city/county. Be certain the W-2(s) attached show the tax paid to another city/county or attach copy of
other city/county tax return, if applicable, for proper credit. You must compute the tax credit on each W-2. A worksheet is
enclosed to assist with the computation.
PARTIAL YEAR RESIDENT: Credit is based on number of months you worked at a job while a Forest Park resident.
Please attach your computation.
5C
Total estimated tax payments and prior year overpayments credited to 2006.
5D
Total Lines 5a through 5c.
6
Subtract line 5d from line 4.
7
FOR LATE RETURNS: Late filing penalty maximum is $100.00. In addition, there is a late pay penalty of $100.00 or 3%
(.03) per month on tax due, whichever is greater. Interest is calculated at the Federal short-term rate effective January 1,
plus 3 points per month on tax due.
8
Total Line 6 and Line 7. If amount due is LESS than $1.00 you need not pay. If overpayment, leave blank and record on
Line 9.
9
Record overpayment, if applicable.
10
Estimate 2007 income and multiply times 1% (.01) tax rate. If income will be different from 2006, please explain.
11A
Tax to be withheld for Forest Park by employer.
11B
Payment to another City or County (not to exceed .5% (.005) credit limit).
11C
2006 City of Forest Park Extension Request Form, Line 11 minus Line 12 (if filed).
11D
Total Lines 11a, 11b, and 11c.
12
Subtract Line 11d from Line 10.
13
Estimated tax due (divide by four (4) to arrive at quarterly payment). You may pay the full amount of estimated tax with the
filing of this form. Amount shown must accompany this return.
14
Total from Line 9.
15
Please designate your voluntary contribution to the City's Environmental Awareness and/or Home Improvement Program.
Your donation is greatly appreciated.
Amount enclosed: Line 8 plus Line 13 minus Line 14 plus Line 15.
16
17
No refunds or credits under $1.00. Overpayments will be applied to 2007 estimate unless a refund is specifically
requested.
Additional forms may be obtained from our website:
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