Instructions For Form Sc1040 - 2011 (Page 8 of 9) in pdf

Instructions - South Carolina Form SC1040

Figure your penalty for underpayment and put the amount on line

Line 22 - OTHER REFUNDABLE CREDITS

33. If you are due a refund, subtract the penalty amount from the

difference on line 24 and line 29 and enter the result on line 30.

Enter amounts from I-333 refundable credit for anhydrous

Attach SC2210 to your tax return when using an exception to

ammonia additive and I-334 refundable credit for production and

waive the penalty.

sale of milk, and check the box that applies. Attach I-333 and/or

I-334.

Line 34 - BALANCE DUE – AMOUNT YOU OWE

Line 26 - SOUTH CAROLINA USE TAX

Add lines 31 through 33 and enter on line 34. This is the amount

you owe.

If your use tax has not been remitted during the year, see South

Carolina Use Tax Worksheet UT-3W for instructions. Add the

NOTE: A taxpayer owing fifteen thousand dollars or more in

amounts from Line 5 of UT-3W worksheet. Purchases subject to

connection with any return to be filed with the department must

use tax are taxed at your county's state and local sales and use

pay electronically per SC Code of Laws Section 12-54-250(A) (1).

tax rate.

See the SC1040-V for additional information on how to pay

Line 27 - ESTIMATED TAX

electronically free of charge or include SC1040-V with your check

or money order for the full amount payable to SC Department of

If you want to apply any or all of your overpayment toward next

Revenue. Write your Social Security number and “2011 SC1040"

year's tax, enter the amount on this line.

on the payment. File your SC1040 Individual Income Tax

Return and your SC1040-V with payment attached.

Line 28 - CONTRIBUTIONS FOR CHECK-OFFS

See I-330 for specific information about the various funds to

SIGN AND DATE YOUR RETURN

which you may contribute. Enter the total from Schedule I-330.

Attach I-330 to your return. Your contribution cannot be made

Your return must be signed. Both spouses must sign a joint

unless you attach I-330.

return.

REFUND OR AMOUNT YOU OWE

For deceased taxpayers, returns must be signed by surviving

spouse, executor or administrator. For surviving spouse, write

"filing as surviving spouse" by your signature.

Line 30 - REFUND

A personal representative filing the return must sign in his or her

If line 29 is larger than line 24, go to line 31. Otherwise, subtract

official capacity and attach SC1310. Any refund check will be

line 29 from line 24 and enter the "Amount to be Refunded to

issued to the decedent's surviving spouse or estate.

You" on line 30. The SC Department of Revenue will not refund

amounts less than $1.00.

AUTHORIZATION

Line 31 - NET TAX

f you have an amount on line 29, add lines 25 and 29 and enter

The signature section of the return contains a "check the box"

on line 31; otherwise, enter the amount from line 25.

authorization for release of confidential information. A check in

the "yes" box authorizes the Director of the Department of

Line 32 - LATE FILING AND/OR LATE PAYMENT

Revenue or delegate to discuss the return, its attachments and

PENALTIES AND INTEREST

any notices, adjustments or assessments with the preparer.

f you have calculated failure to file/pay penalties and interest,

If a person is paid to prepare the income tax return, his/her

enter in the appropriate blanks and put the total of both on line

signature and preparer tax identification number (PTIN) or federal

32.

employer identification number (FEIN) are required in the spaces

provided. Penalties are applicable for failure to comply.

Line 33 - UNDERPAYMENT OF ESTIMATED TAX-

SC2210

REFUND CHECK BOX

You may owe a penalty for underpayment if you did not pay in

four equal amounts by the required dates at least the smaller of

90% of your tax liability for 2011; or 100% of your tax liability for

South Carolina will soon offer the option for taxpayers to receive

their refund on a VISA Debit Card. This card can be used at

2010.

ATMs and anywhere VISA is accepted. If you are not using the

However, if your adjusted gross income is $150,000 or more, the

direct deposit option for your refund and you still prefer to receive

100% rule is modified to be 110% of the tax shown on your 2010

a paper check in the mail, check the box. Otherwise, if

income tax return. See SC2210 to determine any penalty that

available you will receive a VISA Debit Card. Those who choose

may be due.

electronic direct deposit of their income tax refund will continue to

receive their funds electronically.

Exception to underpayment of estimated tax:

Enter an “A” in the box if you completed federal Schedule

1099-G/INT CHECK BOX

AI-Annualized Income Installment Method for South Carolina

purposes in determining the amount to enter on Line 33.

SCDOR will soon offer the option to receive your Form

Enter an “F” in the box if you are a farmer or fisherman. You

1099-G/INT on its secure, confidential website

will not owe interest if you are a farmer or fisherman and pay

instead of receiving it in the mail. Form 1099-G/INT is used when

the tax due by March 1, 2012. You are a farmer or

preparing your federal tax return. The website information would

fisherman if you received at least two-thirds of your gross

allow you to print a copy of the form if needed. Check this box

income for the year from farming and fishing.

and provide a valid email address to receive more information

Enter a “W” if you are requesting a waiver of your entire

and instructions about this new program when available.

penalty. See SC2210 instructions for information on what

qualifies for a waiver of penalty.

Instructions For Form Sc1040 - 2011 Page 8

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