Form Mi-2210 - Michigan Underpayment Of Estimated Income Tax - 2013 Page 3
Download a blank fillable Form Mi-2210 - Michigan Underpayment Of Estimated Income 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 Mi-2210 - Michigan Underpayment Of Estimated Income 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
2
3
4Instructions for Form MI-2210
2013 MI-2210, Page 3
Underpayment of Estimated Income Tax
Complete the MI-2210 form and the annualization
General Instructions
Worksheet and attach them to your Michigan annual tax
return (individual or fiduciary).
Use this form to determine if you owe penalty and interest
for failing to make estimated payments or for underpaying
Completing the Worksheet
the estimated tax due. You can be charged interest (and
You must annualize for the entire year by completing all
possibly penalty) if your payment was insufficient or late
four columns.
in any quarter. This is true even if you are due a refund
Complete one column at a time. Line 1 must be the year-
when you file your tax return. The interest and penalty
to-date total for each period in the appropriate column.
are figured separately for each due date; you could still
Each column is an accumulating total and should include
owe interest and penalty even if you made up an earlier
the amount from the previous column plus any additional
underpayment with an overpayment later. No penalty is
income earned to date. The last column should equal the
charged if estimates were not required in the immediately
amount on your MI-1040, line 14.
preceding year; however, interest may still be due.
Example: You earned $5,000 in the first three months of
The estimated tax payments must be made timely, in four
the year. You earned an additional $4,000 during April and
equal installments, and the sum of the installments must
May. Enter on Worksheet, line 1, $5,000 in the first column
equal:
and $9,000 in the second column.
• 90 percent of the tax shown on your 2013 tax return,
Each entry on Worksheet line 12 will be MI-2210, Part
or
1, line 8, divided by four regardless of how the income is
• 100 percent of the tax shown on your 2012 tax return,
earned. If you add Worksheet line 16 across the columns,
or
the sum should equal the total shown on MI-2210, line 8.
• 110 percent of the tax shown on your 2012 return if 2012
Taxpayers who annualize must also enter 25 percent of
Adjusted Gross Income (AGI) was more than $150,000
tax withheld in each column of the MI-2210, line 11, or
if filing joint or single ($75,000 if your 2013 filing status
submit documentation to substantiate uneven distribution
is married, filing separately).
of withholding.
Because this is a complicated form, you may choose to
Special Rules for Farmers, Fishermen, and
have Treasury compute your interest and penalty and send
Seafarers
you a bill instead of filing the form yourself. If you want
Do not file this form if BOTH of these apply:
Treasury to figure your interest, complete your MI-1040
• Your gross income from farming, fishing or seafaring
form as usual, leaving the interest line blank, and do not
is at least 2/3 of your annual gross income for 2012 or
attach form MI-2210. Interest computed on this form and
2013, AND
penalty charged for failing to file or underpaying estimates
• You filed your MI-1040 and paid the entire tax due by
will be the same regardless of whether you pay with your
return or if Treasury bills you.
March 1, 2014.
You may avoid penalty and interest and should not file
Where to Get Forms
this form IF:
If you need to file estimated tax, a 2014 Michigan
• You had no tax liability for 2012 (if you had to file),
estimated income tax formset (MI-1040ES for individuals,
or you were not required to file a 2012 return and your
MI-1041ES for fiduciaries) is available on the Treasury
2012 federal tax return was for a full 12 months.
Web site at or by calling
(517) 636-4486 to have tax forms mailed to you.
• The total tax on your 2013 return minus the amount you
paid in withholding and all your credits is $500 or less.
Line-by-Line Instructions
• You made timely estimated tax payments in equal
Before completing Part 1, add MI-1040 lines 25, 26, 27b,
installments that were at least 100% of your 2012 tax or
28 and 29. Subtract this sum from MI-1040, line 21. If
90% of your 2013 tax.
the result is $500 or less, do not complete this form. For
Annualizing
MI-1041, subtract lines 13 from line 18. If the result is
If you receive income unevenly during the year (e.g., from
$500 or less, do not complete this form.
a seasonal business, capital gain, severance pay or bonus)
FISCAL-YEAR FILERS: Change due dates and interest
you may annualize your income.
rates to correspond with your tax year.
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial