Form Dr 0204 - Computation Of Penalty Due Based On Underpayment Of Colorado Individual Estimated Tax - 2012

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DR 0204 (10/18/12)
Web
2012
COLORADO DEPARTMENT OF REVENUE
Denver, CO 80261-0005
Computation of Penalty Due Based on
Underpayment of Colorado Individual Estimated Tax
Taxpayer’s Name
Social Security Number
If at least two-thirds of your gross 2012 income is from farming or fishing and you file your
Part 1 — Exception Number 1
2012 return and pay the full amount of tax due on or before March 1, 2013, you are not subject to the estimated tax penalty.
Exception Number 2
1. Enter your 2012 tax liability (including alternative minimum tax and any credit recapture) after
reduction for all credits other than withholding tax and estimated tax payments and credits .............
$
$ 1,000.00
2. (a) Statutory exemption .....................................................................................................................
$
(b) 2012 Colorado income tax withheld ..............................................................................................
$
(c) Total of lines 2(a) and 2(b) ............................................................................................................
3. Line 1 minus line 2(c). If 2(c) is larger, enter 0 and you are not subject to the penalty ......................
$
Part 2 — Required Annual Payment
4. (a) Enter your 2012 tax liability (including alternative minimum tax and any credit recapture) after
reduction for all credits other than withholding tax and estimated tax payments and credits ..............
$
$
(b) Enter 70% of the amount on line 4(a) ...........................................................................................
5. (a) Enter your 2011 tax liability (including alternative minimum tax and any credit recapture) after
$
reduction for all credits other than withholding tax, estimated tax payments and credits ...................
(b) If your 2011 federal adjusted gross income is greater than $150,000 (greater than $75,000 if
married filing separate), enter 10% of line 5(a). If not, enter 0 .......................................................
$
$
(c) Enter total of lines 5(a) and 5(b) ...................................................................................................
6. Required payment. Enter the smaller of lines 4(b) or 5(c) ..................................................................
$
Payment Due Dates
Part 3 — Penalty Computation
April 17, 2012
June 15, 2012
Sept 17, 2012
January 15, 2013
7. Divide the amount on line 6 by four.
Enter the result in the appropriate
$
$
$
$
columns ...............................................
8. Amounts paid in estimated tax ............ $
$
$
$
9. Amount of tax withheld ........................ $
$
$
$
10. Overpayment (on line 12) from
$
$
$
previous period ....................................
11. Total of lines 8, 9, and 10 ..................... $
$
$
$
12. Underpayment (line 7 minus line 11) or
$
$
$
$
<overpayment> (line 11 minus line 7)
13. Date of payment or December 31,
2012, whichever is earlier ....................
14. Number of days from due date of
payment to date on line 13 ..................
15. Underpayment on line 12 multiplied by
6% multiplied by number of days on
line 14 divided by 365 .......................... $
$
$
16. Date of payment or April 15, 2013,
whichever is earlier ..............................
17. Number of days from December
31, 2012 or due date of payment,
whichever is later, to date on line 16 ...
18. Underpayment on line 12 multiplied by
6% multiplied by number of days on
line 17 divided by 365 .......................... $
$
$
$
19. Total penalty. Add all amounts on lines 15 and 18. Include this amount as estimated tax
penalty on line 48 of Form 104 .........................................................................................................
$

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