Fillable Form M8x - Amended S Corporation Return/claim For Refund (Page 4 of 4) in pdf

Form M8X Instructions

(continued)

Line 16

When you pay by check, your check autho-

You may check the box in the signature area

rizes us to make a one-time electronic fund

to give us your permission to discuss your

If line 15 is a negative amount, treat it as a

transfer from your account. You may not

return with the paid preparer. This autho-

positive amount and add it to line 7C. Enter

receive your canceled check.

rization remains in effect until you notify

the result on line 16. This is the amount

the department in writing (either by mail or

you owe, which is due when you file your

Line 21

fax) that the authorization is revoked.

amended return. You cannot use any funds

If you want your refund to be directly de-

in your estimated tax account to pay this

Checking the box does not give your pre-

posited into your bank account, complete

amount. Continue with line 17.

parer the authority to sign any tax docu-

line 22. Your bank statement will indicate

ments on your behalf or to represent you at

when your refund was deposited to your

Line 17

any audit or appeals conference. For these

account. Otherwise, skip line 22 and your

If only one of the penalties below applies,

types of authorities, you must file a power of

refund will be sent to you in the mail.

you must multiply line 16 by 10 percent

attorney, Form REV184.

(.10). If both penalties apply, multiply line

This refund cannot be applied to your esti-

16 by 20 percent (.20). Enter the result on

mated tax account.

Email Address

line 17.

If the department has questions regarding

Line 22

• The IRS assessed a penalty for negli-

your return and you want to receive corre-

If you want your refund to be directly

gence or disregard of rules or regula-

spondence electronically, indicate the email

deposited into your checking or savings

tions; and/or

address below your signature. Check a box

account, enter the routing and account

• You failed to report federal changes

to indicate if the email address belongs to

numbers. You must use an account not as-

to the department within 180 days as

an employee of the S corporation, the paid

sociated with any foreign banks.

required.

preparer or other contact person.

The routing number must have nine digits.

By providing an email address, you are

Line 19

The account number may contain up to 17

authorizing the department to correspond

Interest is calculated as simple interest and

digits (both numbers and letters). Enter the

with you or the designated person over the

accrues on unpaid tax and penalties from

number and leave out any hyphens, spaces

Internet and you understand that the en-

the regular due date until it is paid in full.

and symbols.

tity’s nonpublic tax data may be transmitted

Use the formula below with the appropriate

over the Internet.

interest rate:

If the routing or account number is incor-

rect or is not accepted by your financial

You also accept the risk that the data may

Interest = line 18 x number of days past

institution, your refund will be sent to you

be accessed by someone other than the

the due date x interest rate ÷ 365

in the form of a paper check.

intended recipient. The department is not

If the days fall in more than one calendar

liable for any damages that the entity may

You can find your bank’s routing number and

year, you must determine the number of

incur as a result of an interception.

account number on the bottom of your check .

days separately for each year.

Information and Assistance

The interest rates for recent years are:

Website:

2010-13 3%

2003 5%

1998

By completing line 22, you are authorizing

Email:

BusinessIncome.Tax@state.mn.us

2009

2002 7%

1997

the department and your financial institu-

2007-08 8%

2001 9%

1996

Phone: 651-556-3075

2006

2000 8%

1995

tion to initiate electronic credit entries, and

(TTY: Call 711 for Minnesota Relay)

2004-05 4%

1999 8%

1993-94 6%

if necessary, debit entries and adjustments

We’ll provide information in other formats

for any credits made in error.

Penalty will be assessed if the additional tax

upon request.

and interest are not paid with the amended

Signature

return.

The return must be signed by the princi-

Line 20

pal officer of the organization receiving,

Pay Electronically. To pay electronically, go

controlling or managing the income of the

to and log in to

S corporation. The person must also include

e-Services. If you don’t have Internet access,

his or her ID number.

call 1-800-570-3329 to pay by phone.

If someone other than the principal officer

Pay by Check. If you are paying by check,

prepared the return, the preparer must also

you must complete Form PV65 and mail

sign. The preparer’s PTIN and phone num-

it with your Form M8X along with a check

ber should also be included.

made payable to Minnesota Revenue.

Form M8x - Amended S Corporation Return/claim For Refund Page 4

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