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M2, Lines 18–25

Signature

Late Payment. If the tax is not paid by

Line 20

the original due date, a penalty is due of 6

Amount Due

The return must be signed by the fiduciary

percent of the unpaid tax on line 16.

Add lines 16 through 19. This is the amount

or authorized officer of the organization

of tax you owe.

receiving, controlling or managing the in-

If you file your return after the regular due

come of the estate or trust. The person must

date with a balance due, an additional 5 per-

Be sure to check the appropriate box on line

also include his or her ID number.

cent penalty will be assessed on the unpaid

20 to indicate your method of payment. See

tax.

Payment options on page 2.

If someone other than the fiduciary pre-

pared the return, the preparer must also

Late Filing. If you are filing your return

Line 21

sign. The preparer’s ID number and phone

after the extended due date, you must pay a

Overpayment

number should also be included.

late filing penalty. The late filing penalty is

If you have an overpayment, you may choose

You may check the box in the signature

5 percent of the unpaid tax on line 16.

to have it directly deposited into your bank

area to give us your permission to discuss

account. You may also choose to apply all or

Payment Method. If you are required to

your return with the paid preparer. This

a portion of your overpayment toward your

pay electronically and do not, an additional

authorization remains in effect until you

2017 estimated tax account.

5 percent penalty applies to payments not

notify the department in writing (either

made electronically, even if your paper

Line 22

by mail or fax) that the authorization is

check is sent on time.

revoked.

2018 Estimated Tax

Skip this line if you owe additional tax or you

Checking the box does not give your

Line 18

will be electing to have your entire refund

preparer the authority to sign any tax docu-

Interest

directly deposited (see line 24).

ments on your behalf or to represent you at

You must pay interest on the unpaid tax and

any audit or appeals conference. For these

penalty from the regular due date until the

If you are paying 2018 estimated tax, you

types of authorities, you must file Form

total is paid. The interest rate for calendar

may apply all or a portion of your refund to

REV184, Power of Attorney.

year 2017 is 4 percent.

your 2018 estimated tax. Enter the portion of

E-mail Address

line 21 you want to apply toward your 2018

To figure how much interest you owe, use

estimated tax.

If the department has questions regarding

the following formula with the appropriate

your return and you want to receive cor-

interest rate:

Line 23

respondence electronically, indicate the e-

Minnesota Income Tax Refund

Interest =

mail address below your signature. Check a

Subtract line 22 from line 21. The result is

(tax + penalty) x # of days late x interest rate ÷ 365

box to indicate if the e-mail address belongs

the amount of your 2017 Minnesota income

Line 19

to the fiduciary or paid preparer.

tax refund that will be refunded to you.

Trusts Only

By providing an e-mail address, you are

If you want to request your refund to be

Skip this line if you are an estate.

authorizing the department to correspond

direct deposited into your bank account,

with you or the designated person over the

Trusts: In addition to any penalties you may

complete line 24. Your bank statement will

Internet and you understand that the entity’s

owe on line 17, you may also owe an addi-

indicate when your refund was deposited to

nonpublic tax data may be transmitted over

tional charge for underpaying or not paying

your account. Otherwise, skip line 24 and

the Internet.

estimated tax. You may owe this additional

your refund will be sent to you in the mail.

charge if:

You also accept the risk that the data may

Line 24

be accessed by someone other than the

• line 16 of Form M2 is $500 or more,

To Request Direct Deposit of Refund

intended recipient. The department is not li-

• any nonresident beneficiary’s share of the

If you want your refund to be directly depos-

able for any damages that the fiduciary may

composite income tax on line 13 is $500

ited into your checking or savings account,

incur as a result of an interception.

or more, or

enter the routing and account numbers.

to initiate electronic credit entries, and if

• you did not pay the required amount of

You can find your bank’s routing number and

necessary, debit entries and adjustments for

estimated tax by the due dates. This is

account number on the bottom of your check.

any credits made in error.

true even if you have a refund.

Line 25

Complete Schedule EST, Additional Charge

for Underpayment of Estimated Tax (for

State and Municipal Bond In terest

The routing number must have nine digits.

Trusts, Partnerships and S Corporations),

Enter the amount of interest or dividends

The account number may contain up to 17

to determine the additional charge for

received from bonds or a bond mutual fund

digits (both numbers and letters). Enter the

underpaying estimated tax, if any, to enter

which invests in non-Minnesota state or

number and leave out any hyphens, spaces

on line 19. Include Schedule EST with your

municipal securities.

and symbols.

return.

For dividends received from a bond mutual

If the routing or account number is incorrect

fund, determine the amount to include using

or is not accepted by your financial institu-

the following instructions:

tion, your refund will be sent to you in the

• If 95 percent or more of the federally

form of a paper check.

tax-exempt dividends from a mutual fund

By completing line 24, you are authorizing

came from bonds issued by Minnesota,

the department and your financial institution

Instructions For Form M2 - Minnesota Income Tax For Estates And Trusts (Fiduciary) - 2017 Page 6

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