Form 1120xnf - Amended Nebraska Financial Institution Tax Return - 2013 Page 3
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3Line 19, Additional Tax Due. If line 13 is greater than line 18, subtract the amount on line 18 from the amount on line 13
and enter the difference here.
LINE 20, Penalty. If the original return was not filed by its due date and line 19 indicates a tax due, compute a penalty for
failure to file in a timely manner as follows:
•
Compute the number of months or fraction of a month from the due date of the original return to the date the
amended return is filed;
•
Multiply the amount due on line 19 by 5% per month or fraction of a month as determined above; and
•
Limit the total penalty to 25% of the amount on line 19.
Additional penalties may be imposed for:
•
Failure to file a return and pay tax due on or before the due date;
•
Failure to file an Amended Nebraska Financial Institution Tax Return to report changes made to the institution's
amount of deposits or net financial income;
•
Preparing or filing a fraudulent return; or
•
Understatement of deposits or net income before income taxes and extraordinary items on a financial institution
tax return. Filing a false or fraudulent Nebraska return is subject to penalty, even if the amounts reported are taken
from your federal return or reports filed with state or federal regulatory agencies.
Line 21, Interest Due. Compute interest at the statutory rate of 3%
(Revenue Ruling
99-12-1) on the additional tax due
(line 19) from the original due date to the date the tax is paid. Interest is not credited for an overpayment of tax if the refund
is issued to the taxpayer within 90 days after the last date prescribed for filing the return.
Line 22, Balance Due. Payment of tax, penalty, and interest due may be made electronically.
Electronic
Payment. Financial institutions that made tax payments exceeding $9,000 in the prior year are required to
make all payments electronically. Beginning July 1, 2014, the threshold for electronic payments will be lowered to $8,000.
The threshold is scheduled to be lowered each July until 2017 when the threshold will be set at $5,000.
E-Pay (Nebraska e-pay, ACH Credit, Tele-pay). Pay the amount due electronically. It’s secure, easy, and fast. Details
on electronic payments can be found in the “Make a Payment” section on the Department’s website.
Credit Card. Secure credit card payments can be initiated through Official Payments at ,
or via telephone at 800-2PAY-TAX. Eligible credit cards include American Express, Discover, MasterCard, and VISA. A
convience fee (2.49% of the tax payment, $1 minimum) will be charged to the card you use. This fee is paid to the credit card
vendor, not the State, and will appear on your credit card statement separately from the tax payment.
Check or Money Order. Include a check or money order payment to the Nebraska Department of Revenue with your
return. Checks written to the Department may be presented for payment electronically.
Lines 24A-24D, Direct Deposit. To have your refund directly deposited into your checking or savings account, enter the
routing number and account number associated with the account.
•
24a. List the routing number is listed first and must be nine digits.
•
24b. Indicate the type of account – checking or savings.
•
24c. The account number is listed to the right of the routing number and can be up to 17 digits.
•
24d. Box 24d is used to comply with new banking rules regarding International ACH Transactions (IATs). These
refunds cannot be processed as direct deposits and, instead, will be mailed.
Sign and Date the Tax Return. This return must be signed by an officer of the financial institution. If another person is
authorized to sign this return, a
must be on file with the Department or attached to the return.
power of attorney
Paid Preparer’s Use Only. Any person who is paid for preparing a financial institution’s return must sign the return
as preparer. The preparer must enter his or her Preparer Tax ID Number (PTIN), their firm’s name, and Federal Employer
ID Number (EIN).
Schedule I. Provide a complete explanation of the reasons for filing the amended return. If the return is being filed due to
a change made by a state or federal regulatory agency, a dated copy of the regulatory agency's notice must also be attached.
Contact Information. If you need additional assistance, contact:
Nebraska Department of Revenue
PO Box 94818
Lincoln, NE 68509-4818
800-742-7474 (NE and IA) or 402-471-5729.
revenue.nebraska.gov
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