Form Rev-1630 - Underpayment Of Estimated Tax By Individuals - 2012
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REV-1630 (12-12) (FI)
UNDERPAYMENT OF
2012
ESTIMATED TAX
BY INDIVIDUALS
BUREAU OF INDIVIDUAL TAXES
INSTRUCTIONS
PURPOSE & USE: Under Pennsylvania personal income tax law, any
Line 1b. Calculate 90 percent of Line 1a by multiplying Line 1a by
individual who reasonably expects annual income for the tax year to
0.90.
exceed $8,000, disregarding income subject to PA withholding, must
Line 2. The credits allowed to reduce the tax due are also used to
declare and pay estimated tax.
reduce your tax liability for this calculation. Add together the following
Use this form to determine if you paid enough estimated tax in each of
lines from Form PA-40: Line 13 (Total PA Tax Withheld), Line 17
the four payment periods (Part l). If you did not pay enough tax in any
(Nonresident Tax Withheld), Line 21 (Tax Forgiveness Credit), Line 22
payment period, then there is an underpayment for that period and a
(Resident Credit) and Line 23 (Total Other Credits). If Line 2 is more
corresponding interest penalty imposed. Use this form to determine if
than Line 1b, you do not owe a penalty and do not need to complete
any exceptions to the interest penalty apply (Part II). If an exception
this form.
does not apply, use this form to calculate the interest due (Part III).
Line 3. Subtract Line 2 from Line 1a. If the amount is $246 or more,
This form must be filed even if one of the exceptions applies. A different
complete Lines 4 through 10. If less than $246, you did not owe
exception may apply for each payment period.
estimated income tax and do not have to complete this form.
NOTE: If you are using this form to calculate penalty on your 2012
Line 4. Subtract Line 2 from Line 1b. This amount is used to determine
return, enclose a copy of this form (including applicable worksheet)
if you have an underpayment. If you have an underpayment, the
with Form PA-40.
penalty is calculated on this amount.
FARMERS - There are special estimated tax payment rules that apply to
Line 5. Divide Line 4 by 4 and enter the amount in each of the four
farmers. These rules apply to those who cultivate, operate or manage a
Columns a through d.
farm for profit or gain. A farm is a tract of land devoted to agriculture,
Fiscal year filers. For Column a use the 15th day of the fourth month
pasturage, stock raising or some allied industry. It includes dairy, stock
of the tax year, for Column b use the 15th day of the sixth month of
and poultry farms.
the tax year, for Column c use the 15th day of the ninth month of the
If you meet both of the following tests, you do not owe interest for
tax year and for Column d use the 15th day of the first month following
underpaying estimated tax:
the close of the tax year.
1) Your gross income from farming for the taxable year is at least 2/3
Line 6. Line 6 represents the timely payments credited to your account
of your gross income from all sources for the taxable year; and
for each of the four payment due dates. If you made a payment after
2) You filed your tax return and paid the entire amount due by March
the due date, do not include that amount on Line 6. Each column will
1 of the following year, or you paid all of your estimated tax by Jan.
indicate a total of your estimated payments for the period. To calculate
15, 2013.
the amounts to be entered on Line 6, use the following steps and insert
If you meet these tests, please complete REV-1630A, Underpayment
the total result for each column in the appropriate column. Do not
of Estimated Tax by Individual Farmers. If you do not meet both tests,
include any credits from Line 2.
you are not considered a farmer for PA tax purposes. Please complete
In Column a, enter the amount of 2012 estimated tax payment(s)
this form to see if you qualify for any other exceptions to the interest
made on or before April 16. Include in your estimated tax payments in
penalty.
Column a any overpayment of tax from your prior year’s return that
WHO MUST PAY INTEREST FOR UNDERPAYMENT OF ESTIMATED
you elected to apply to this year’s tax. In Column b, enter the amount
TAXES: If you did not pay any estimated tax or did not pay the correct
of 2012 estimated payments made after April 16 and on or before June
estimated tax by any due date or if you did not pay the entire 2012
15. In Column c, enter the amount of 2012 estimated payments made
estimated tax in one payment on or before April 16, 2012, you may be
after June 15 and on or before Sept. 15. In Column d, enter the
charged an interest penalty. This is true even if you are due a refund
amount of 2012 estimated payments made after Sept. 15 and on or
when you file your PA income tax return. Interest is calculated sepa-
before Jan. 15, 2013.
rately for each due date. Therefore, you owe interest for an earlier
If you filed a final return and paid the total tax due by Jan. 31, 2013,
payment due date, even if you paid enough tax later to make up for
the underpayment.
enter the amount paid with your return as the fourth installment.
IMPORTANT: If you are a Pennsylvania resident working in Indiana,
IMPORTANT: Complete Lines 7 through 10 for one payment period
Maryland, New Jersey, Ohio, Virginia or West Virginia and your employer
before you go to the next payment period.
does not withhold PA personal income tax, you are required to make
Line 7. If you have an overpayment on Line 10 for the prior payment
estimated payments.
period, enter that amount. This does not apply to the April 16th
payment period (Column a).
WHEN INTEREST IS APPLIED: In general and unless you qualify for
the farming exemption, there is an underpayment if your 2012
Line 8. Add Lines 6 and 7 for each of the columns to determine the
prepayments were not:
total payments applied to the payment period. This figure will be used
• 90 percent of the estimated tax due for the payment period; or
to determine if you have an underpayment.
• 100 percent of the estimated tax due for the payment period
Line 9. If Line 5 is greater than Line 8 for any column, calculate the
calculated by multiplying the taxable income on Line 11 of 2011
amount of the underpayment for the payment period by subtracting
Form PA-40 by 3.07 percent (0.0307). This provision does not apply
Line 8 from Line 5. If Line 8 is greater than Line 5 for any column,
if you did not file a prior year’s return or if you filed your prior year’s
subtract Line 5 from Line 8 and enter it in the appropriate column and
return as a part-year resident.
on Line 7 of the next payment period. If Line 5 is not greater than Line
CAUTION: You can only use your prior year’s tax liabilities as a safe
8 for any of the Columns a through d, enter zero on Line 9. If all
harbor if the rates for the prior year and the current year are the same.
Columns 9a through 9d are zero, stop here. You do not owe the interest
If the tax rate changes, use the prior year’s income multiplied by the
penalty. If there are overpayments but not in every quarter, go to the
current year’s rate to calculate the safe harbor.
applicable columns for Lines 14a and 14b and place an X in each
The total estimated tax and credits for tax year 2012 must be equal to
column where an overpayment exists.
or greater than the 2011 tax year liability per installment period.
Line 10. Calculate the amount of the overpayment for the payment
period. Enter this amount on Line 7 of the next payment period. If you
PART l. CALCULATING YOUR UNDERPAYMENT
have an overpayment in the Jan. 15th payment period, do not carry it
Line 1a. Insert the tax liability figure from Line 12 of your 2012 PA-40
tax return.
to any other space on the form.
(Instructions continued on back cover.)
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