Form Amd - Montana Individual Income Tax Amended Return Reconciliation Worksheet Page 3
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3during the year. This is generally reported to you
to 8%. If you do not pay the full amount due with your
on federal Form 1099. If the mineral rights are
amended tax return, we will send you a statement of
held by a pass-through entity for which you have
account with the penalties and interest due.
an ownership interest or an estate or trust from
Interest is attached to overpayments of taxes at the
which you receive a distribution, enter the amount
same rate as charged on delinquent taxes.
reported to you as your share of the withholding.
Interest is not paid on a refund which results from
If you had an ownership interest in a pass-through
a net operating loss carryback or carryforward or a
entity that had Montana source income and
credit such as Form 2EC, Elderly Homeowner/Renter
withheld Montana income tax, enter the amount
Credit.
here. This amount is reported to you on the
Waiver of Late Payment Penalty
Montana Schedule K-1 or Form PT-WH issued by
the entity.
If you file an amended return that reflects an
increased tax liability, you may have the late payment
•
If you are amending a tax return for married
penalty waived provided that you pay the tax and
individuals who filed “married filing separately
applicable interest in full. Simply mark the “Amended
on the same form,” complete a separate AMD
Return” box on the tax return. By doing so, you are
Worksheet for each spouse.
requesting a waiver of the late payment penalty.
•
If you itemized deductions, you should recalculate
Sign Your Return
to see if your income changes affect the limitations
for medical expenses and miscellaneous itemized
Be sure to sign your amended tax return. Please
deductions.
provide the name and the phone number of the third
party designee we should contact if we have any
•
An adjustment to income could also change the
questions about your amended return.
amount of your taxable social security benefits
or the amount of the partial pension and annuity
Where to get tax forms and instructions or if you
income exemption or the standard deduction.
need help…
•
If amending to change your filing status from joint
By Internet – Look on our website at revenue.
to married filing separately on the same form or
mt.gov under Downloadable Forms.
separate forms, include a detailed breakdown
By Phone –
(866) 859-2254 (Toll Free)
showing the allocation of income and deductions
between spouses.
444-6900 (Helena Area)
Statute of Limitations
(406) 444-2830 (TDD)
If you determine that your Montana tax return was
By Mail –
Montana Department of Revenue
incorrect but the changes do not result in a change to
PO Box 5805
your federal taxable income, you have five years from
Helena, MT 59604-5805
the original due date of the Montana tax return to file
an amended return.
If the amended tax return involves a change to
your federal taxable income, you will need to file an
amended Montana tax return within 90 days, whether
you voluntarily changed your federal taxable income
or if you received notification of the change to your
federal taxable income by the Internal Revenue
Service. If you do not notify us within 90 days of the
change to your federal taxable income, we have five
years from the date that the changes become final
on your federal tax return to adjust your Montana tax
return to reflect these same changes.
Interest and Late Payment Penalty
Interest is calculated from the original due date of the
tax return being amended to the date of payment.
Effective January 1, 2007, the annual interest rate for
all unpaid individual income taxes changed from 12%
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