Fillable Form Ow-8-P - Underpayment Of Estimated Tax Worksheet

2014 Form OW-8-P

Oklahoma Underpayment of Estimated Tax Worksheet - Page 2

Name as shown on return

SSN or FEIN

Part 3: Computation of Interest

Column A

Column B

Column C

Column D

Column E

Balance Due

Amount of

Date of

Number of

Interest

After

Payment

Complete each quarter before going to the next quarter.

Days

Payment

First Quarter • Due Date 4/15

Enter required payment from Part 2, line 9, Column A.

Enter any withholding.

4/15

Enter apply from previous year, if any.

4/15

Enter any estimated tax payment.

4/15

Enter tax payment made after 4/15.

Total interest due for first quarter.

Second Quarter • Due Date 6/15

Enter required payment from Part 2, line 9, Column B.

Enter any withholding not used in prior quarter.

6/15

Enter any estimated tax not used in prior quarter.

6/15

Enter tax payment made after 6/15.

Total interest due for second quarter.

Third Quarter • Due Date 9/15

Enter required payment from Part 2, line 9, Column C.

Enter any withholding not used in prior quarters.

9/15

Enter any estimated tax not used in prior quarters.

9/15

Enter tax payment made after 9/15.

Total interest due for third quarter.

Fourth Quarter • Due Date 1/15

Enter required payment from Part 2, line 9, Column D.

Enter any withholding not used in prior quarter.

1/15

Enter any estimated tax not used in prior quarter.

1/15

Enter tax payment made after 1/15.

Total interest due for fourth quarter.

Instructions to Part 3

In the first line of each quarter, Part 3, Column C, enter the required payment from Part 2, line 9. Then complete each line across before

proceeding to the next line. Column C in each quarter must be brought to zero, unless all payments have already been applied, before

proceeding to the next quarter.

Column A- Enter the date the estimated tax payment(s) was actually paid. Estimated tax payments and withholding payments which

are paid on or before the quarterly due date are considered timely paid; therefore, the date is preprinted on the form. If the

preprinted date falls on a weekend or holiday, adjust the date to the next business day. Any balance due, paid with your tax

return, is considered a payment for this purpose and should be listed, using the date you filed your return or the original

due date, whichever is earlier.

Column B- Enter payments according to the date paid or deemed paid, the earliest date of payment being applied first. Only use the

portion of a payment necessary to bring the balance due to zero.

Withholding payments are deemed paid on the quarterly due date(s). Enter on the withholding line tax(es) withheld, on or

before the quarterly due date, that have not been applied to a previous quarter.

Enter on the estimated tax line estimated tax payments paid on or before the quarterly due date, which have not been ap-

plied to a previous quarter.

Enter on the tax payment line(s) any payment made after the quarterly due date. If more lines are needed for tax pay-

ments, list each payment separately on an attached schedule using Columns A through E.

Column C- Compute the balance due after each payment. If there are no payments entered on the withholding and estimated tax

lines, bring the required payment down to the estimated tax line in Column C and complete Columns D & E.

Column D- Column C balance, for each line, is considered past due until the next payment is made. Compute the number of days past

due from the date of this payment until the date of the next payment or the original due date of the return, if no payment is

made.

Column E- Column C x Number of days in Column D x 20%

divided by 365

Form Ow-8-P - Underpayment Of Estimated Tax Worksheet - 2014 Page 2

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