Form Mi-2210 - Michigan Underpayment Of Estimated Income Tax - 2014 Page 3
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42014 MI-2210, Page 3
Instructions for Form MI-2210,
Underpayment of Estimated Income Tax
General Instructions
Completing the Worksheet
You must annualize for the entire year by completing all
Use this form to determine if you owe penalty and interest
four columns.
for failing to make estimated payments or for underpaying
Complete one column at a time. Line 1 must be the year-
the estimated tax due. You can be charged interest (and
possibly penalty) if your payment was insufficient or late
to-date total for each period in the appropriate column.
in any quarter. This is true even if you are due a refund
Each column is an accumulating total and should include
when you file your tax return. The interest and penalty
the amount from the previous column plus any additional
are figured separately for each due date; you could still
income earned to date. The last column should equal the
amount on your MI-1040, line 14.
owe interest and penalty even if you made up an earlier
underpayment with an overpayment later. No penalty is
Example: You earned $5,000 in the first three months of
charged if estimates were not required in the immediately
the year. You earned an additional $4,000 during April and
preceding year; however, interest may still be due.
May. Enter on Worksheet, line 1, $5,000 in the first column
The estimated tax payments must be made timely, in four
and $9,000 in the second column.
equal installments, and the sum of the installments must
Each entry on line 12 of the Annaulized Worksheet will be
equal:
MI-2210, Part 1, line 8, divided by four regardless of how
• 90 percent of the tax shown on your 2014 tax return, or
the income is earned. If you add line 16 of the Annualized
• 100 percent of the tax shown on your 2013 tax return,
Worksheet across the columns, the sum should equal the
total shown on MI-2210, line 8.
or
• 110 percent of the tax shown on your 2013 return if 2013
Taxpayers who annualize must also enter 25 percent of
Adjusted Gross Income (AGI) was more than $150,000
tax withheld in each column of the MI-2210, line 11, or
if filing joint or single ($75,000 if your 2014 filing status
submit documentation to substantiate uneven distribution
is married filing separately).
of withholding.
Because this is a complicated form, you may choose to
Special Rules for Farmers, Fishermen, and
Seafarers
have Treasury compute your interest and penalty and send
you a bill instead of filing the form yourself. If you want
Do not file this form if BOTH of these apply:
Treasury to figure your interest, complete your MI-1040
• Your gross income from farming, fishing or seafaring
form as usual, leaving the interest line blank, and do not
is at least 2/3 of your annual gross income for 2013 or
attach form MI-2210. Interest computed on this form and
2014, AND
penalty charged for failing to file or underpaying estimates
• You filed your MI-1040 and paid the entire tax due by
will be the same regardless of whether you pay with your
March 1, 2015.
return or if Treasury bills you.
Where to Get Forms
You may avoid penalty and interest and should not file
If you need to file estimated tax, a 2015 Michigan
this form IF:
estimated income tax formset (MI-1040ES for
• You had no tax liability for 2013 (if you had to file),
individuals, MI-1041ES for fiduciaries) is available at
or you were not required to file a 2013 return and your
or by calling (517) 636-4486 to
2013 federal tax return was for a full 12 months.
have tax forms mailed to you.
• The total tax on your 2014 return minus the amount you
Visit for information on how to
paid in withholding and all your credits is $500 or less.
make estimated payments using Treasury’s e-Payments
• You made timely estimated tax payments in equal
service.
installments that were at least 100% of your 2013 tax or
90% of your 2014 tax.
Line-by-Line Instructions
Before completing Part 1, add MI-1040, lines 25, 26, 27b,
Annualizing
28 and 29. Subtract this sum from MI-1040, line 21. If
If you receive income unevenly during the year (e.g., from
the result is $500 or less, do not complete this form. For
a seasonal business, capital gain, severance pay or bonus)
MI-1041, subtract the sum of lines 19 and 20 from
you may annualize your income.
line 18. If the result is $500 or less, do not complete this
Complete the MI-2210 form and the annualization
form.
Worksheet and attach them to your Michigan annual tax
return (individual or fiduciary).
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