Looking for a California Tax Forms And Templates? Download it for free!

Underpayment of Estimated Tax

CALIFORNIA FORM

TAXABLE YEAR

5805

2014

by Individuals and Fiduciaries

Attach this form to the back of your Form 540, Long Form 540NR, or Form 541. Also, check the box for underpayment of estimated tax

located on Form 540, line 113; Long Form 540NR, line 123; or Form 541, line 42, whichever applies.

Name(s) as shown on return

SSN, ITIN, or FEIN

IMPORTANT: In most cases, the Franchise Tax Board (FTB) can figure the penalty for you and you do not have to complete this form. See General

Information B.

If you meet any of the following conditions, you do not owe a penalty for underpayment of estimated tax. Do not complete or file this form if:

• The amount of your tax liability (not including tax on lump-sum distributions) less credits (including the withholding credit) but not including

estimated tax payments for either 2013 or 2014 was less than $500 (or less than $250 if married/RDP filing a separate return).

• Your 2013 return was for a full 12 months (or would have been if you were required to file) and you did not have any tax liability on that return.

• The amount of your withholding plus your estimated tax payments, if paid in the required installments, is at least 90% of the tax shown on

your 2014 return or 100% of the tax shown on your 2013 return (110% if California adjusted gross income (AGI) was more than $150,000 or

$75,000 if married/RDP filing a separate return) and you are not using the annualized income installment method. Taxpayers with California

AGI equal to or greater than $1,000,000 (or $500,000 if married/RDP filing a separate return), must use the tax shown on their 2014 tax return

if they do not meet one of the two conditions above.

Part I Questions. All filers must complete this part. Estates and Trusts, see General information E.

Are you requesting a waiver of the penalty? If “Yes,” provide an explanation below and be sure to check the box on Form 540, line 113;

Long Form 540NR, line 123; or Form 541, line 42. If you need additional space, attach a statement.





See General Information C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1

Yes

Did you use the annualized income installment method? If “Yes,” see instructions for Part III and be sure to check the box on





Form 540, line 113; Long Form 540NR, line 123; or Form 541, line 42 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2

Yes

Was your California withholding not withheld in equal installments and are you able to show the actual amounts withheld





per period and the actual dates withheld? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

Yes



N /A

If “Yes,” enter the actual uneven amounts withheld on the spaces provided below. The total of the four amounts must equal the total

withholding reported on Form 540, line 71 and line 73; Form 540NR, line 81 and line 83; or Form 541, line 29 and line 31.



4/15/14

; 6/15/14

; 9/15/14

; 1/15/15



