Form Cnf-120u - Underpayment Of Estimated Tax Penalty

2013

CNF-120U

Underpayment of Estimated Tax Penalty

(Continued)

REV. 2-13

NAME

FEIN

PART 3: Calculate the Underpayment

Column A

Column B

Column C

Column D

42. Installment Due Dates: Enter in columns A – D the

15th day of the 4th, 6th, 9th, and 12th months of

your tax year...........................................................

43. If you are using the annualized method, enter the

amounts from Part 2, line 41; otherwise 1/4 of line

9 of Part 1 in each column......................................

.00

44. Estimated payments (see instructions). If line 44

is greater than or equal to line 43 for all columns,

stop here, you are not subject to the penalty..........

.00

COMPLETE LINES 45 THROUGH 51 FOR ONE COLUMN BEFORE GOING TO THE NEXT COLUMN

45. Enter the amount, if any, from line 51 of the

previous column......................................................

.00

46. Add lines 44 and 45..................................................

.00

47. Add lines 49 and 50 of the previous column.............

.00

48. In column A enter the value from line 44. In

columns B – D, subtract line 47 from line 46. If

zero or less, enter 0................................................

.00

49. If line 48 is zero, subtract line 46 from line 47;

otherwise enter 0....................................................

.00

50. UNDERPAYMENT: If line 43 is equal to or more

than line 48, subtract line 48 from line 43. Enter

the result here and go to line 45 of the next

column. Otherwise, go to line 51.............................

.00

51. OVERPAYMENT: If line 48 is more than line 43,

subtract line 43 from line 48. Enter the result here

and go to line 45 of the next column.......................

.00

PART 4: Calculate the Penalty

52. Enter the date of the installment payment or

the unextended due date of your annual return,

whichever is earlier.................................................

53. Enter the number of days from the due date of the

installment on Part 3, line 42 to the date shown on

Part 4, line 52..........................................................

54. Enter the number of days on line 53 before 7/1/13.

55. Enter the number of days on line 53 after 6/30/13

and before 1/1/14....................................................

56. Enter the number of days on line 53 after 12/31/13

and before 7/1/14....................................................

57. Enter the number of days on line 53 after 6/30/14

and before 1/1/15....................................................

58. Underpayment on Part 3, Line 50 x (number of

days on line 54/365) x .095.....................................

.00

59. Underpayment on Part 3, Line 50 x (number of

days on line 55/365) x .095.....................................

.00

60. Underpayment on Part 3, Line 50 x (number of

days on line 56/365) x .* %.....................................

.00

61. Underpayment on Part 3, Line 50 x (number of

days on line 57/365) x * %......................................

.00

62. TOTAL: Add lines 58 through 61.............................

.00

63. PENALTY DUE – Add Columns A – D, line 63. Enter here and on line 10 of Part 1 and on line 37 of Form CNF-120...................................................

.00

*See instructions to determine

tes in effect for these periods.

Form Cnf-120u - Underpayment Of Estimated Tax Penalty - 2013 Page 3

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