Worksheet In-152 - Vermont Underpayment Of Estimated Individual Income Tax - 2015
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1Underpayment of 2015 Estimated
2015
WORKSHEET
152
IN-
Individual Income Tax
VERMONT
Please Print or Type
Taxpayer’s Social Security Number
Spouse or CU Partner Social Security Number
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-
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Taxpayer’s Last Name
First Name
Initial
Spouse or CU Partner Last Name
First Name
Initial
0 0
1. 90% of 2015 VERMONT TAX MINUS CREDITS:
,
,
.
(Form IN-111, Line 26 minus the sum of Lines 31c, 31d, and 31g multiplied by 90%) . . . . . . . . . . . . . 1.
0 0
2. 100% of 2014 VERMONT TAX MINUS CREDITS:
,
,
.
(Form IN-111, Line 26 minus the sum of Lines 31c, 31d, and 31g).. . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.
0 0
,
,
.
3. Enter the lesser of Line 1 or Line 2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.
DUE DATES OF QUARTERLY PAYMENTS
April 15, 2015
June 15, 2015
Sept. 15, 2015
Jan. 15, 2016
Totals
CALCULATION OF UNDERPAYMENT
4. Tax payments required per quarter
(Multiply Line 3 by .25) . . . . . . . . . . . . . . . . . . . . . . . . . . .
______________________________________________________
5a. From 2015 Form IN-111, add Lines 31a, 31e, and 31f,
then multiply by .25 per quarter . . . . . . . . . . . . . . . . . . . . .
______________________________________________________
5b. Enter 2014 overpayment and 2015 quarterly estimated
payments made by the due date per quarter . . . . . . . . . . . .
______________________________________________________
5c. Add Lines 5a and 5b. Each quarter should not equal
more than Line 4; apply any excess to the next quarter . . .
______________________________________________________
6. Underpayment per quarter (Subtract Line 5c from Line 4).
This line cannot be less than zero. . . . . . . . . . . . . . . . . . . .
______________________________________________________
7. Date FULL payment was made or April 15, 2016,
whichever date is earlier. . . . . . . . . . . . . . . . . . . . . . . . . . .
CALCULATION OF INTEREST
8a. Number of days AFTER the due date to the date reported
on Line 7 for each quarter, or Jan. 1, 2016, whichever
date is earlier. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
______________________________________________________
8b. Number of days FROM Jan. 1, 2016 to the date payment
was made on Line 7 for each quarter, or April 15, 2016,
whichever date is earlier. 4th quarter: Use number of
days from Jan. 15, 2016. . . . . . . . . . . . . . . . . . . . . . . . . . .
______________________________________________________
9a. Interest due for 2015 (Divide Line 8a by 365, multiply
by 5.6%, then multiply by Line 6) . . . . . . . . . . . . . . . . . . .
______________________________________________________
9b. Interest due for 2016 (Divide Line 8b by 365, multiply
by 5.6%, then multiply by Line 6) . . . . . . . . . . . . . . . . . . .
______________________________________________________
10. Interest due per quarter (Add Lines 9a and 9b) . . . . . . . . .
11. Total underpayment interest due (Add Line 10 columns) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11.
CALCULATION OF PENALTY
12. Number of months FROM the due date of that quarter to
the date shown on Line 7 (a portion of a month counts
as a whole month) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
______________________________________________________
13. Penalty due per quarter (Multiply Line 12 by .01 (1%)
then by Line 6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14. Total underpayment penalty due (Add Line 13 columns) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14.
TOTAL INTEREST AND PENALTY
15. Total underestimated interest and penalty due (Add Line 11 total and Line 14 total) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .15.
Worksheet IN-152
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