Form K-210 - Kansas Individual Underpayment Of Estimated Tax - 2012 Page 2
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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
This exception applies if the amount on line 7 exceeds the amount
on line 9a or 9b (as applicable). If you are a farmer or fisher, you will
If you are an individual taxpayer (including farmer or fisher), use
only complete the last column on line 9b.
this schedule to determine if your income tax was fully paid
For example, to figure the first column, total your income from
throughout the year by withholding and/or estimated tax payments. If
January 1 to March 31, 2012 and multiply by 4. Subtract your
your 2012 tax due (line 17 of the K-40 – DO NOT include
deductions (standard or itemized) and your exemption allowance
compensating tax from line 18 of the K-40), less withholding and tax
amount. Using this net annualized income figure, compute the tax.
credits (excluding estimated tax payments made) is $500 or more,
Multiply the tax by the percentage rate in the first column.
you may be subject to an underpayment of estimated tax penalty
and must complete this form.
Repeat these instructions for the remaining three columns, using
the multiplication factors given above to annualize the income for
Taxpayers (other than farmers or fishers) are not required to make
a payment for the January 15
th
quarter if a Form K-40 was filed and
that period. Enclose a schedule showing your computation of
the tax was paid in full on or before January 31, 2013.
annualized income and tax amounts. If the amount on line 7 (for
each column) is equal to or greater than the amount on line 9a
Farmers & Fishers: If at least two-thirds of your annual gross
(for each column), or line 9b, for farmers or fishers – no penalty
income is from farming or fishing and you filed Form K-40 and paid
the tax on or before March 1, 2013, you may be exempt from any
is due and no further entries are required.
penalty for underpayment of estimated tax. If so, write on line 1
“Exempt–farmer/fisher”, and do not complete the rest of this schedule.
PART II – FIGURING THE PENALTY
However, if you meet this gross income test, but did not file a
LINE 10: Enter on line 10 the amount of underpayment of tax,
return and pay the tax on or before March 1, 2013, you must use this
which is the lesser of one of the following computations:
schedule to determine if you owe a penalty for underpayment of
estimated tax.
• Line 8 less line 7; or,
• Line 9a less line 7; or,
COMPLETING THIS SCHEDULE
• Line 9b less line 7
Enter your name and your Social Security number in the space
LINE 11: This line contains the due date of each installment for a
provided at the top of this schedule.
calendar year taxpayer.
LINES 1 through 4: Complete these lines based on information on
LINE 12: The number of days on line 12 are precomputed for a
your income tax return for this tax year and the prior tax year.
calendar year taxpayer that made timely payments. If you did not
If you did not file an income tax return for the prior tax year, or if you
make timely payments, you should disregard the precomputed
did file a return but your income tax balance (line 17, Form K-40)
number of days on line 12 and compute the number of days on each
was zero, then enter zero on line 3 of this schedule.
quarter to the date paid.
PART I – EXCEPTIONS TO THE PENALTY
EXAMPLE: If you paid the 6/15/12 installment on 6/28/12 the
number of days to enter on line 12, column 2 will be computed
You will NOT be subject to a penalty if your 2012 tax payments
from 6/15/12 to 6/28/12, which equals 13 days. If you then
(line 7) equal or exceed the amounts for one of the exceptions (lines
paid the next quarter timely at 9/17/12, the number of days
8 or 9a or 9b) for the same payment period.
will be from 9/17/12 to 1/15/13, which equals the 120 days
LINE 5: Multiply the amount on line 4 by the percentage shown in
(105 already entered + 15).
each column of line 5.
LINE 13: The 5% penalty rate begins in column 3 for a calendar
LINE 6: Enter the cumulative amount of timely paid estimated tax
year taxpayer, therefore no entry is required in columns 1 and 2. The
payment made in each quarter. For example, Column 3 will be the
15 days in the 3
rd
column are from 1/1/13 to 1/15/13. If you did not
total of your withholding and estimated tax payments made from
make timely payments, you should disregard the precomputed
January 1 through September 17, 2012.
number of days on line 13 and compute the number of days on each
LINE 7: For each column, add lines 5 and 6 and enter the result
quarter to the date paid.
on line 7.
• If you file your return prior to 1/15/13, enter in the third column
LINE 8: Exception 1 applies if the amount on line 7 of a column
the number of days from 1/1/12 to the date filed and disregard
equals or exceeds the amount on line 8 for the same column. Multiply
the precomputed number of days (15) entered on line 13.
line 2 or 3 (whichever is less) by the percentages shown in each
• The fourth column must be completed by you. Enter the number
column of line 8. If the amount on line 7 (for each column) is equal
of days from 1/15/13 to the date the return was filed and paid.
to or greater than the amount on line 8 (for each column) – no
LINES 14 and 15: Penalty is computed to 12/31/12 at 5%; and
penalty is due and no further entries are required.
at 4% from 1/1/13 to the date the tax was paid, or 4/15/13, whichever
LINE 9: Exception 2 applies if your 2012 tax payments equal or
is earlier.
exceeds 90% (66 2/3% for farmers and fishers) of the tax on your
annualized income for these 2012 periods:
LINE 16: For each column, add lines 14 and 15 and enter the
result on line 16.
January 1 – March 31
Multiply income by 4
January 1 – May 31
Multiply income by 2.4
LINE 17: Add the amounts on line 16 together and enter the result
January 1 – August 31
Multiply income by 1.5
on line 17. Also enter this amount on Form K-40, line 31, Estimated
January 1 – December 31
Multiply income by 1
Tax Penalty.
Page 25
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