Form It-210 - Underpayment Of Estimated Tax By Individuals - 2011 Page 2
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1
2SOCIAL
PRIMARY LAST NAME
SHOWN ON
SECURITY
FORM IT-140
NUMBER
PART III ShORT METhOD
Read the instructions on page 28 & 29 to see if you can use the short method. If you checked BOX 11 of PART I or annualized in PART II skip this part and go to PART IV.
1. Enter the amount from line 8 of Part I of IT-210.........................................................................................................
1
.00
2. Enter the amount from line 4, Part I.................................................................
2
.00
3. Enter the total, if any, of the estimated payments made..................................
3
.00
4. Add lines 2 and 3......................................................................................................................................................
4
.00
5. Total underpayment for the year (subtract line 4 from line 1). If zero or less, stop here. No penalty due.................
5
.00
6. Multiply line 5 by .06312...........................................................................................................................................
6
.00
7. If the amount on line 5 was paid on or after April 15, 2012, enter zero. If
paid prior to April 15, 2012 line 5 X number of days paid before April 15,
2012 X .000260...............................................................................................
7
.00
8. Penalty due (subtract line 7 from line 6). Enter here and on the PENALTY DUE line of your personal income tax
return...............................................................................................................................................................................
8
.00
PART IV REGULAR METhOD
(a)
(b)
(c)
(d)
SECTION A – FIGuRE THE uNDERPAYMENT
4/15/11
6/15/11
9/15/11
1/15/12
1. If you are using the annualized method, enter the
amounts from line 19 of the Annualized Income
Worksheet; otherwise, enter 1/4 of line 8 of PART
I in each column.....................................................
1
.00
.00
.00
.00
2. Estimated tax paid and tax withheld (see
instructions). For column (a) only, enter the
amount from line 2 on line 6. If line 2 is equal to
or more than line 1 for all payment periods, stop
here; you do not owe any penalty..........................
2
.00
.00
.00
.00
NOTE: Complete Lines 3 through 9 before going to the next column.
3. Enter the amount, if any, from line 9 of the
previous column..................................................
3
.00
.00
.00
4. Add lines 2 and 3.................................................
4
.00
.00
.00
5. Add lines 7 and 8 of the previous column............
5
.00
.00
.00
6. Subtract line 5 from line 4. If zero or less, enter
zero. For column (a) only, enter the amount
from line 2............................................................
6
.00
.00
.00
.00
7. If line 6 is zero, subtract line 4 from line 5.
Otherwise, enter zero..........................................
7
.00
.00
.00
.00
8. UNDERpAyMENt. If line 1 is equal to or more
than line 6, subtract line 6 from line 1, enter the
result here and go to line 3 of the next column.
Otherwise, go to line 9.........................................
8
.00
.00
.00
.00
9. OVERpAyMENt. If line 6 is more than line 1,
subtract line 1 from line 6, enter the result here
and go to line 3 of the next column.....................
9
.00
.00
.00
.00
SECTION B – FIGuRE THE PENALTY
NOTE: Complete Lines 10 through 12 for each column before going to the next column
10. Number of days fROM the date shown at the
(a)
(b)
(c)
(d)
top of the column TO the date the amount on
4/15/11
6/15/11
9/15/11
1/15/12
line 8 was paid, or 4/15/2012, whichever is
earlier..................................................................
10
.00
.00
.00
.00
11. Daily penalty rate for each quarter.......................
11
0.000260
0.000260
0.000260
0.000260
12. penalty due for each quarter (line 8 x 10 x 11).....
12
.00
.00
.00
.00
13. penalty due (add all amounts on line 12). Enter here and on the pENAlty DUE line of your personal income tax return (line 20)......................
13
.00
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