Fillable Form Ia 1041v - Fiduciary Income Tax Payment Voucher printable pdf download

Iowa Fiduciary Income Tax

Iowa Department of Revenue

Payment Voucher and Instructions

Note: Penalties can only be waived under limited circumstances, as described in Iowa Code section

421.27.

Failure to Timely File a Return: A penalty of 10% will be added to the tax due for failure to timely file

a return if the return is filed after the original due date of the return and if at least 90% of the correct

amount of tax is not paid by the original due date of the return.

Failure to Timely Pay the Tax Due or Penalty for Audit Deficiency: A penalty of 5% will be added

to the tax due if the return is filed by the original due date and at least 90% of the correct amount of tax

is not paid by the original due date of the return.

When the failure to file penalty and the failure to pay penalty are both applicable, only the failure to file

penalty will apply.

Penalty for Willful Failure to File: A penalty of 75% will be added to the tax due for willful failure to

file a return or for filing with intent to evade tax.

Estates and trusts are not required to file an application requesting additional time to file their fiduciary

income tax returns. Instead, all taxpayers who have paid 90% or more of their correct tax on or before the

regular due date of the return automatically have an additional six months in which to file their return and

pay any additional tax due with no penalty. Interest is still due on any additional tax paid after the regular

due date. Taxpayers who have not paid 90% or more of their correct tax on or before the regular due date of

their fiduciary income tax return are not allowed the 6- month additional period of time to file and owe both

penalty and interest on the additional tax after the regular due date of their return.

Instructions for Payment Vouchers

1. FEIN: Enter the Federal Employee Identification Number in the boxes provided below.

2. Period Ending: Enter the date of the calendar or fiscal year end. Use MMDDYY format. MM: two-digit

month. DD: two-digit day. YY: last two digits of the tax year. The “Period Ending” for December 31, 2014,

would be entered as: 123114.

3. Amount: Enter dollars and cents. The two boxes separated to the right on the “Amount” line are for

cents. Do not enter any punctuation (ex: $, .).

4. Enclose payment with your voucher – do not use staples – complete using blue or black ink

5. Send this completed voucher with any remittance necessary to ensure that 90% or more of the correct

amount of tax is paid on or before the expiration of your regular due date.

Mail your payment with this voucher to:

Iowa Department of Revenue

PO Box 10467

Des Moines, IA 50306-0467

Iowa Department of Revenue

IA 1041V

Fiduciary Income Tax Payment Voucher

Estate or Trust Name:

FEIN:

Fiduciary Information:

Name & Title:

Period Ending:

Address:

City, State ZIP:

Amount:

Phone:

Check if: Estate:

Trust:

Mail to:

Make checks payable to:

Iowa Department of Revenue

Treasurer, State of Iowa

PO Box 10467

When you pay by check, you authorize the Department

*1463007019999*

Des Moines IA 50306-0467

of Revenue to convert your check to a one-time

electronic banking transaction.

63-007 (09/25/2014)

Form Ia 1041v - Fiduciary Income Tax Payment Voucher

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