Form Rev-1630 - Underpayment Of Estimated Tax By Individuals - 2014 Page 3

Download a blank fillable Form Rev-1630 - Underpayment Of Estimated Tax By Individuals - 2014 in PDF format just by clicking the "DOWNLOAD PDF" button.

Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.

Complete Form Rev-1630 - Underpayment Of Estimated Tax By Individuals - 2014 with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.

Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.

PART III CALCULATING INTEREST. COMPLETE LINES 15 THROUGH 16 IF NONE OF THE EXCEPTIONS APPLY. (SEE INSTRUCTIONS

AND EXAMPLE AT BOTTOM OF THIS PAGE.) DO NOT USE FEDERAL CALCULATIONS.

9. Enter the amounts from Part I, Line 9. . . . . . . . . . . . . . . .

14a. Number of days after due date of estimated payment to and

including date of annual payment or Dec. 31, 2014,

whichever is earlier. If Dec. 31 is earlier, enter 260, 198 and

107 respectively. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

14a.

14b. Number of days after due date of estimated payment to and

including date of annual payment or April 15, 2015,

whichever is earlier. If April 15 is earlier, enter 90.. . . . . . .

14b.

14c. Number of days after Dec. 31, 2014 to and including date of

annual payment or April 15, 2015, whichever is earlier. If

April 15 is earlier, enter 105 in each column.. . . . . . . . . . .

14c.

15a. Number of days on Line 14a times 0.000082 times

underpayment on Line 9.. . . . . . . . . . . . . . . . . . . . . . . . .

15a.

15b. Number of days on Line 14b times 0.000082 times

underpayment on Line 9.. . . . . . . . . . . . . . . . . . . . . . . . .

15b.

15c. Number of days on Line 14c times 0.000082 times

underpayment on Line 9.. . . . . . . . . . . . . . . . . . . . . . . . .

15c.

16. Interest. Add amounts on Lines 15a, b and c. Include on Line 27 of Form PA-40. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

16.

SPECIAL EXCEPTION INFORMATION

Please enter the following information to verify the correct application of the special exceptions rule:

A. Enter the amount of your 2013 PA Tax Liability (Line 12 from your 2013 PA-40 tax return), less the amounts from

Lines 13, 17, 22 and 23 from your 2013 PA-40 tax return. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

B. Did you make estimated payments beginning in the period in which it became

Yes

known that your income not subject to tax exceeded $8,000?

If the amount for Line A is $246 or greater, or if you answer “No” to Line B, you do not qualify for the special exception. To be eligible for the special

exception, you must also make estimated payments beginning in the period in which it becomes known that income not subject to withholding will

exceed $8,000. See the instructions for “DETERMINING THE UNDERPAYMENT AMOUNT ON WHICH THE ADDITION OF INTEREST MAY BE ASSESSED”

on Page 4 for additional information.

FILING TIPS

The department calculates the following using two decimal places:

Rounding to whole dollars is utilized only on the following:

•

Line 1b and Lines 4 through 10 of Part I;

•

Lines 1a, 2 and 3 of Part 1;

•

Lines A, B, C and 11 of Exception 1 of Part II;

•

Line 12 of Exception 1 of Part II; and

•

Line 13 of Exception 2 of Part II; and

•

Lines A and B of Exception 2 of Part II.

•

Lines 14a through 16 of Part III

EXAMPLE OF INTEREST CALCULATION

1st Estimated Payment 2nd Estimated Payment 3rd Estimated Payment 4th Estimated Payment

Due Date

9. Underpayment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

$473.75

14a. Days late through 12/31/14 (1st, 2nd and 3rd estimated

payment due dates). . . . . . . . . . . . . . . . . . . . . . . . . . . .

14a.

260

198

107

14b. Days late 01/15/15 through 04/15/15 (4th estimated

payment due date) . . . . . . . . . . . . . . . . . . . . . . . . . . . .

14b.

14c. Days late 01/01/14 to 04/15/14 (1st, 2nd and 3rd estimated

payment due dates). . . . . . . . . . . . . . . . . . . . . . . . . . . .

14c.

105

15a. Days on Line 14a times 0.000082 (2014 daily interest rate)

times underpayment of $473.75 . . . . . . . . . . . . . . . . . . .

15a.

$10.10

$7.69

$4.16

15b. Days on Line 14b times 0.000082 (2015 daily interest rate)

times underpayment of $473.75 . . . . . . . . . . . . . . . . . . .

15b.

$3.50

15c. Days on Line 14c times 0.000082 (2015 daily interest rate)

times underpayment of $473.75 . . . . . . . . . . . . . . . . . . .

15c.

$4.08

$37.69

16.

16. Total Lines 15a, 15b and 15c to determine penalty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

PRINT FORM

Reset Entire Form