Form K-210 - Kansas Individual Underpayment Of Estimated Tax - 2013 Page 2
Download a blank fillable Form K-210 - Kansas Individual Underpayment Of Estimated Tax - 2013 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 K-210 - Kansas Individual Underpayment Of Estimated Tax - 2013 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.
ADVERTISEMENT
1
2INSTRUCTIONS FOR SCHEDULE K-210
If any due date falls on a Saturday, Sunday, or legal holiday, substitute the next regular work day.
WHO MAY USE THIS SCHEDULE
January 1 – March 31
Multiply income by 4
January 1 – May 31
Multiply income by 2.4
If you are an individual taxpayer (including farmer or fisher), use
January 1 – August 31
Multiply income by 1.5
this schedule to determine if your income tax was fully paid
January 1 – December 31
Multiply income by 1
throughout the year by withholding and/or estimated tax payments.
This exception applies if the amount on line 7 exceeds the
If your 2013 tax due (line 18 of the K-40 – DO NOT include
amount on line 9a or 9b (as applicable). If you are a farmer or
compensating tax from line 19 of the K-40), less withholding and
fisher, you will only complete the last column on line 9b.
tax credits (excluding estimated tax payments made) is $500 or
For example, to figure the first column, total your income from
more, you may be subject to an underpayment of estimated tax
January 1 to March 31, 2013 and multiply by 4. Subtract your
penalty and must complete this form.
deductions (standard or itemized) and your exemption allowance
Taxpayers (other than farmers or fishers) are not required to
amount. Using this net annualized income figure, compute the tax.
th
make a payment for the January 15
quarter if a Form K-40 was
Multiply the tax by the percentage rate in the first column.
filed and the tax was paid in full on or before January 31, 2014.
Repeat these instructions for the remaining three columns,
Farmers & Fishers: If at least two-thirds of your annual gross
using the multiplication factors given above to annualize the income
income is from farming or fishing and you filed Form K-40 and
for that period. Enclose a schedule showing your computation of
paid the tax on or before March 1, 2014, you may be exempt from
annualized income and tax amounts. If the amount on line 7 (for
any penalty for underpayment of estimated tax. If so, write on line 1
each column) is equal to or greater than the amount on line 9a
“Exempt–farmer/fisher”, and do not complete the rest of this
(for each column), or line 9b, for farmers or fishers – no penalty
schedule.
is due and no further entries are required.
However, if you meet this gross income test, but did not file a
PART II – FIGURING THE PENALTY
return and pay the tax on or before March 1, 2014, you must use
this schedule to determine if you owe a penalty for underpayment
LINE 10: Enter on line 10 the amount of underpayment of tax,
of estimated tax.
which is the lesser of one of the following computations:
COMPLETING THIS SCHEDULE
• Line 8 less line 7; or,
• Line 9a less line 7; or,
Enter your name and your Social Security number in the space
• Line 9b less line 7
provided at the top of this schedule.
LINE 11: This line contains the due date of each installment for
LINES 1 through 4: Complete these lines based on information
a calendar year taxpayer.
on your income tax return for this tax year and the prior tax year.
LINE 12: The number of days on line 12 are precomputed for a
If you did not file an income tax return for the prior tax year, or if
calendar year taxpayer that made timely payments. If you did not
you did file a return but your income tax balance (line 18, Form
make timely payments, you should disregard the precomputed
K-40) was zero, then enter zero on line 3 of this schedule.
number of days on line 12 and compute the number of days on
each quarter to the date paid.
PART I – EXCEPTIONS TO THE PENALTY
EXAMPLE: If you paid the 6/15/13 installment on 6/28/13 the
You will NOT be subject to a penalty if your 2013 tax payments
number of days to enter on line 12, column 2 will be
(line 7) equal or exceed the amounts for one of the exceptions
computed from 6/15/13 to 6/28/13, which equals 13 days. If
(lines 8 or 9a or 9b) for the same payment period.
you then paid the next quarter timely at 9/17/13, the number
LINE 5: Multiply the amount on line 4 by the percentage shown
of days will be from 9/17/13 to 1/15/14, which equals the
in each column of line 5.
120 days (105 already entered + 15).
LINE 6: Enter the cumulative amount of timely paid estimated
LINE 13: The 4% penalty rate begins in column 3 for a calendar
tax payment made in each quarter. For example, Column 3 will be
year taxpayer, therefore no entry is required in columns 1 and 2.
the total of your withholding and estimated tax payments made
rd
The 15 days in the 3
column are from 1/1/14 to 1/15/14. If you did
from January 1 through September 15, 2013.
not make timely payments, you should disregard the precomputed
number of days on line 13 and compute the number of days on
LINE 7: For each column, add lines 5 and 6 and enter the result
each quarter to the date paid.
on line 7.
• If you file your return prior to 1/15/14, enter in the third column
LINE 8: Exception 1 applies if the amount on line 7 of a column
the number of days from 1/1/13 to the date filed and disregard
equals or exceeds the amount on line 8 for the same column.
the precomputed number of days (15) entered on line 13.
Multiply line 2 or 3 (whichever is less) by the percentages shown in
• The fourth column must be completed by you. Enter the number
each column of line 8. If the amount on line 7 (for each column)
of days from 1/15/14 to the date the return was filed and paid.
is equal to or greater than the amount on line 8 (for each column)
– no penalty is due and no further entries are required.
LINES 14 and 15: Penalty is computed at 4% for both the 2013
and 2014 periods.
LINE 9: Exception 2 applies if your 2013 tax payments equal or
exceeds 90% (66 2/3% for farmers and fishers) of the tax on your
LINE 16: For each column, add lines 14 and 15 and enter the
result on line 16.
annualized income for these 2013 periods:
Page 16
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial