Montana Form Ext-Fid-10 - Extension Payment Worksheet - 2010 Page 2
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1
2General Instructions
What if the estate or trust needs more time to file the
Montana extension but has not paid the entire 2010 tax
tax return?
liability by April 15, 2011, it is relieved of the late file penalty
but not relieved of late payment penalty and interest on the
In order for an estate or trust to be granted an extension
outstanding Montana income tax liability.
of time for filing Form FID-3, both of the following
requirements must be met by April 15, 2011:
If the estate or trust has not paid all of the tax liability by
April 15, 2011, it will need to pay a late payment penalty.
1. The fiduciary has applied to the IRS by filing federal
The late payment penalty is equal to 1.2% per month or
Form 7004 for an automatic five-month extension to file
fraction of a calendar month on the unpaid balance from
the federal income tax return.
April 15, 2011 until it is paid. In no instance will the late
2. The estate or trust has paid 90% of the estate’s or
payment penalty exceed 12% (10 months X 1.2%) of the
trust’s current year tax liability or 100% of its previous
unpaid tax.
year tax liability through estimated tax payments,
If the estate or trust has not paid all of the tax liability
withholding tax, or a combination of estimated tax
by April 15, 2011, it will have to pay 8% annual interest,
payments and withholding tax.
computed daily on the unpaid balance.
Even though the fiduciary has applied for an automatic
How does the estate or trust make an extension
five-month federal extension, this does not guarantee that
payment?
the estate or trust has a Montana extension, unless it has
met the requirements listed in number 2 above on or before
The fiduciary will need to complete this form to determine
April 15, 2011.
the amount of the extension payment. Attach the payment
to the payment voucher and mail by April 15, 2011.
Check the extension indicator box on Form FID-3, page
3, and attach a copy of the federal Form 7004 to the
If the estate or trust is a fiscal year taxpayer, the payment is
completed Montana income tax return. Do not send copies
due on or before the 15th day of the fourth month after the
of the federal extension prior to filing the tax return.
close of the tax year.
The estate or trust has a valid Montana extension
but did not pay the entire 2010 income tax liability by
April 15, 2011. Is the outstanding Montana income tax
liability subject to penalties and interest?
Yes, it is. It is important to note that any extension of time
to file the Montana tax return is not an extension of time
to pay the tax liability. If the estate or trust has a valid
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