Form 967 - Idaho Annual Withholding Report Instructions (Page 2 of 2) in pdf

EIN0041p2

Page 2

11-03-11

IDAHO ANNUAL WITHHOLDING REPORT INSTRUCTIONS - continued

Line 4. Subtract line 3 (line 3d for split-monthly filers) from

Example: Additional tax due of $250 is paid 40 days late.

line 2. This is your remaining tax due (or overpayment).

$250 x .00010929 (2012 rate) x 40 days

$250 x .00010929 = $0.0273225/day

If line 2 is larger than line 3, you have underpaid your Idaho

x 40 days = $1.09 interest

withholding and will owe additional tax. If line 3 is larger

than line 2, you have overpaid your withholding and may be

Line 7. Enter the total of lines 4, 5, and 6.

entitled to a refund.

Statements Submitted

Line 5. Enter the penalty on the balance due. If line 4 is zero or

a credit, enter 0.

Line 8. Enter the number of W-2 forms attached to the

Form 967.

If you file your Form 967 late, penalty will be calculated on

any unpaid withholding tax due at five percent (5%) per

Line 9. Enter the number of 1099s with Idaho income tax

month after the due date of the return.

withheld attached to the Form 967.

If you file your Form 967 on time, but don't pay all or part of

Check the box if you filed 1099s using the Fed/State

any unpaid withholding tax due, a penalty of one-half percent

Combined filing Program.

(0.5% or .005) per month will be charged until paid in full.

Line 10. Add lines 8 and 9. Enter the total number of

The minimum penalty is $10. The maximum penalty is 25%

statements submitted.

of the tax due.

Line 11. The penalty for late filing of W-2s and 1099s is $2 per

Line 6. Enter the interest on the balance due. If line 4 is zero or

month (or part of a month) for each W-2 and 1099 (minimum $10

a credit, enter 0.

- maximum $2,000). Penalty is due if W-2s and 1099s are not

received by the due date printed on the return.

Interest accrues on the unpaid tax balance from the due date

of the Form 967 to the date paid. Interest rates are:

Line 12. Add lines 7 and 11. Enter the tax due on line 12a, or

the refund amount on line 12b. Don't enter information on both

1/1/12 - 12/31/12, 4% per year; .00010929 daily

lines.

1/1/11 - 12/31/11, 4% per year; .00010959 daily

1/1/10 - 12/31/10, 5% per year; .00013699 daily

You must sign your return to make it valid. Unsigned returns

may result in the delay or denial of credits or refunds.

If payment of the tax is received after the due date of the

Form 967, interest will be computed on the balance due at

If you had an active withholding account for any part of the

the appropriate rate. To complete the computation, multiply

year, you must file Form 967 even if you had no employees,

the tax due x the daily rate x the number of days late.

paid no wages, or withheld no tax.

IDAHO STATE TAX COmmISSION OffICES

800 Park Blvd., Plaza IV

1118 F Street

Boise, Idaho 83712

Lewiston, Idaho 83501

In the Boise Area: (208) 334-7660

Toll Free: (800) 972-7660

1910 Northwest Blvd., Suite 100

611 Wilson Avenue, Suite 5

Hearing Impaired (TDD) (800) 377-3529

Coeur d'Alene, Idaho 83814

Pocatello, Idaho 83201

150 Shoup Avenue, Suite 16

440 Falls Ave.

Idaho Falls, Idaho 83402

Twin Falls, Idaho 83301

Form 967 - Idaho Annual Withholding Report Instructions Page 2

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