Form M2x - Amended Return For Estates And Trusts - 2011 Page 4
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42010 Form M2X instructions (continued)
Line 26
Line 30
Lines 32–51
If only one of the penalties below applies,
If you want your refund to be directly de-
If you enter a corrected amount in Column
you must multiply line 25 by 10 percent
posited into your bank account, complete
C of lines 32 through 51, you may be re-
(.10). If both penalties apply, multiply line
line 31. Your bank statement will indicate
quired to notify beneficiaries of any adjust-
24 by 20 percent (.20). Enter the result on
when your refund was deposited to your
ments to their income. Report the corrected
line 26.
account. Otherwise, skip line 31 and your
information on a new Schedule KF, and
refund will be sent to you in the mail.
check the “Amended KF” box toward the
• The IRS assessed a penalty for negli-
top of the schedule.
gence or disregard of rules or regula-
This refund cannot be applied to your esti-
tions, and/or
mated tax account.
Signature
• You failed to report federal changes
Line 31
The return must be signed by the fiduciary
to the department within 180 days as
If you want your refund to be directly
required.
or authorized officer of the organization
deposited into your checking or savings
receiving, controlling or managing the in-
Line 28
account, enter the routing and account
come of the estate or trust. The person must
numbers.
Interest is calculated as simple interest and
also include his or her ID number.
accrues on unpaid tax and penalties from
You can find your bank’s routing number and
If someone other than the fiduciary pre-
the regular due date until it is paid in full.
account number on the bottom of your check.
pared the return, the preparer must also
Use the formula below with the appropriate
sign. The preparer’s ID number and phone
interest rate:
number should also be included.
Interest = line 26 x number of days past
You may check the box in the signature area
the due date x interest rate ÷ 365
The routing number must have nine digits.
to give us your permission to discuss your
If the days fall in more than one calendar
return with the paid preparer. This autho-
The account number may contain up to 17
year, you must determine the number of
rization remains in effect until you notify
digits (both numbers and letters).
days separately for each year.
the department in writing (either by mail or
If your account number contains less than
fax) that the authorization is revoked.
The interest rate for 2012 is 3 percent.
17 digits, enter the number and leave out
Checking the box does not give your pre-
Penalty will be assessed if the additional tax
any hyphens, spaces and symbols.
parer the authority to sign any tax docu-
and interest are not paid with the amended
If the routing or account number is incor-
ments on your behalf or to represent you at
return.
rect or is not accepted by your financial
any audit or appeals conference. For these
Line 29
institution, your refund will be sent to you
types of authorities, you must file a power
To pay the amount due electronically, go
in the form of a paper check.
of attorney, Form REV184.
to , and click
on “Login to e-File Minnesota” from the
e-Services menu. If you don’t have Internet
access, call 1-800-570-3329 to pay by phone.
If you are paying by check, you must
complete Form PV67 and mail it with your
Form M2X along with a check made pay-
able to Minnesota Revenue.
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