Form Ct-1040 Nr/py - Connecticut Nonresident And Part-Year Resident Income Tax Return And Instructions - 2011 Page 13
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56Annualized Income Installment Method
Interest on Underpayment of Estimated Tax
If your income varies throughout the year, you may be able to
You may be charged interest if you did not pay enough tax
reduce or eliminate the amount of your estimated tax payment for
through withholding or estimated payments, or both, by any
one or more periods by using the annualized income installment
installment due date. This is true even if you are due a refund
method. See Informational Publication 2011(23), A Guide to
when you fi le your tax return. Interest is calculated separately
Calculating Your Annualized Estimated Income Tax Installments
for each installment. Therefore, you may owe interest for an
and Worksheet CT-1040 AES.
earlier installment even if you paid enough tax later to make
up the underpayment. Interest at 1% per month or fraction of a
Filing Form CT-1040ES
month will be added to the tax due until the earlier of April 15,
You may fi le and pay your Connecticut estimated tax using
2012, or the date on which the underpayment is paid.
the TSC. Visit our website at for more
A taxpayer who fi les a 2011 Connecticut income tax return on or
information. You may pay your 2012 estimated Connecticut
before January 31, 2012, and pays in full the amount computed
income tax payments by credit card.
on the return as payable on or before that date, will not be
Use Form CT-1040ES, Estimated Connecticut Income Tax
charged interest for failing to make the estimated payment due
Payment Coupon for Individuals, to make estimated Connecticut
January 15, 2012.
income tax payments for 2012 using a paper return. If you made
A farmer or fi sherman who is required to make estimated income
estimated tax payments in 2011, you will automatically receive
tax payments will not be charged interest for failing to make
coupons for the 2012 taxable year in mid-January. They will be
the estimated payment due January 15, 2012, if he or she fi les a
preprinted with your name, address, and SSN. To ensure your
2011 Connecticut income tax return on or before March 1, 2012,
payments are properly credited, use the preprinted coupons.
and pays in full the amount computed on the return as payable
If you did not make estimated tax payments in 2011, use Form
on or before that date.
CT-1040ES to make your fi rst estimated income tax payment. If
Filing Form CT-2210
you fi le this form, additional preprinted coupons will be mailed
to you. Form CT-1040ES is available on the DRS website at
You may be charged interest if your 2011 Connecticut income
tax (after tax credits) minus Connecticut tax withheld is
$1,000 or more. Use Form CT-2210 to calculate interest on the
To avoid making estimated tax payments, you may request that
underpayment of estimated tax. Form CT-2210 and detailed
your employer withhold additional amounts from your wages
instructions are available from DRS. However, this is a complex
to cover the taxes on other income. You can make this change
form and you may prefer to have DRS calculate the interest.
by giving your employer a revised Form CT-W4, Employee’s
If so, do not fi le Form CT-2210 and DRS will send you a bill.
Withholding Certifi cate. For help in determining the correct
amount of Connecticut withholding to be withheld from your
Interest and Penalties
wage income, see Informational Publication 2012(7), Is My
Connecticut Withholding Correct?
In general, interest and penalty apply to any portion of the tax
not paid on or before the original due date of the return.
Special Rules for Farmers and Fishermen
If you are a farmer or fi sherman (as defi ned in I.R.C. §6654(i)(2))
Interest
who is required to make estimated income tax payments, you
If you do not pay the tax when due, you will owe interest at 1%
must make only one payment. Your payment is due on or before
per month or fraction of a month until the tax is paid in full.
January 15, 2013, for the 2012 taxable year. The required
If you did not pay enough tax through withholding or estimated
2
installment is the lesser of 66
/
% of the income tax shown on
3
payments, or both, by any installment due date, you may be
your 2012 Connecticut income tax return or 100% of the income
charged interest. This is true even if you are due a refund when
tax shown on your 2011 Connecticut income tax return.
you fi le your tax return. See Interest on Underpayment of
A farmer or fi sherman who fi les a 2012 Connecticut income tax
Estimated Tax on this page.
return on or before March 1, 2013, and pays in full the amount
Interest on underpayment or late payment of tax cannot be
computed on the return as payable on or before that date, will
waived.
not be charged interest for underpayment of estimated tax.
Penalty for Late Payment or Late Filing
Farmers or fi shermen who use these special rules must complete
The penalty for late payment or underpayment of income or use
and attach Form CT-2210, Underpayment of Estimated Tax by
tax is 10% of the tax due. If a request for an extension of time
Individuals, Trusts, and Estates, to their Connecticut income
to fi le has been granted, you can avoid a penalty for failure to
tax return to avoid being billed for interest on the underpayment
pay the full amount due by the original due date if you:
of estimated income tax. Be sure to check Box D of Form
CT-2210, Part I, and the box for Form CT-2210 on the front
• Pay at least 90% of the income tax shown to be due on the
of Form CT-1040NR/PY. See Informational Publication
return on or before the original due date of the return; and
2010(16), Farmer’s Guide to Sales and Use Taxes, Motor
• Pay the balance due with the return on or before the extended
Vehicle Fuels Tax, Estimated Income Tax, and Withholding Tax,
due date. If you fi le your return electronically and pay your
or Informational Publication 2009(14), Fisherman’s Guide to
balance due by check, then your check must be postmarked on
Sales and Use Taxes and Estimated Income Tax.
whichever is earlier: the date of acceptance of the electronic
return or the extended due date.
Page 13
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