Worksheet In-152 - Underpayment Of 2017 Estimated Individual Income Tax - 2017

Underpayment of 2017 Estimated

2017

WORKSHEET

152

IN-

Individual Income Tax

VERMONT

Please Print or Type

Taxpayer Information

Taxpayer’s Last Name

First Name

Initial

Taxpayer’s Social Security Number

Spouse’s or CU Partner’s Last Name

First Name

Initial

Spouse’s or CU Partner’s Social Security Number

Required Annual Payment

1. 90% of 2017 VERMONT TAX MINUS CREDITS:

. 0 0

(Form IN-111, Line 26 minus the sum of Lines 31c, 31d, and 31g multiplied by 90%) . . . . . . . . . . . . . 1. _________________________________

2. 100% of 2016 VERMONT TAX MINUS CREDITS:

. 0 0

(Form IN-111, Line 26 minus the sum of Lines 31c, 31d, and 31g).. . . . . . . . . . . . . . . . . . . . . . . . . . . . 2. _________________________________

. 0 0

3. Enter the lesser of Line 1 or Line 2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3. _________________________________

Calculations

DUE DATES OF QUARTERLY PAYMENTS

April 15, 2017

June 15, 2017

Sept. 15, 2017

Jan. 15, 2018

Totals

CALCULATION OF UNDERPAYMENT

4. Tax payments required per quarter

(Multiply Line 3 by .25) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ______________________________________________________

5a. From 2017 Form IN-111, add Lines 31a, 31e, and 31f,

then multiply by .25 per quarter . . . . . . . . . . . . . . . . . . . . . . . . . ______________________________________________________

5b. Enter 2016 overpayment and 2017 quarterly estimated

payments made by the due date per quarter . . . . . . . . . . . . . . . . ______________________________________________________

5c. Add Lines 5a and 5b. Each quarter should not equal

more than Line 4; apply any excess to the next quarter . . . . . . . ______________________________________________________

6. Underpayment per quarter (Subtract Line 5c from Line 4).

This line cannot be less than zero. . . . . . . . . . . . . . . . . . . . . . . . ______________________________________________________

7. Date FULL payment was made or April 15, 2018,

whichever date is earlier. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

CALCULATION OF INTEREST

8a. Number of days AFTER the due date to the date reported

on Line 7 for each quarter, or Jan. 1, 2018, whichever

date is earlier. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ______________________________________________________

8b. Number of days FROM Jan. 1, 2018 to the date payment

was made on Line 7 for each quarter, or April 15, 2018,

whichever date is earlier. 4th quarter: Use number of

days from Jan. 15, 2018. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ______________________________________________________

9a. Interest due for 2017 (Divide Line 8a by 365, multiply

by 5.6%, then multiply by Line 6) . . . . . . . . . . . . . . . . . . . . . . . ______________________________________________________

9b. Interest due for 2018 (Divide Line 8b by 365, multiply

by 6.0%, then multiply by Line 6) . . . . . . . . . . . . . . . . . . . . . . . ______________________________________________________

10. Interest due per quarter (Add Lines 9a and 9b) . . . . . . . . . . . . .

11. Total underpayment interest due (Add Line 10 columns) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11.

CALCULATION OF PENALTY

12. Number of months FROM the due date of that quarter to

the date shown on Line 7 (a portion of a month counts

as a whole month) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ______________________________________________________

13. Penalty due per quarter (Multiply Line 12 by .01 (1%)

then by Line 6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

14. Total underpayment penalty due (Add Line 13 columns) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14.

TOTAL INTEREST AND PENALTY

15. Total underestimated interest and penalty due (Add Lines 11 and 14) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .15.

Worksheet IN-152