Form 2-Es - Massachusetts Estimated Income Tax For Filers Of Forms 2, 3m And M-990t-62 - 2013
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1
22013
Form 2-ES
Massachusetts
Massachusetts Estimated Income Tax
Department of
for Filers of Forms 2, 3M and M-990T-62
Revenue
General Information
Are there exceptions to the due date? Whenever a due date
falls on a Saturday, Sunday or legal holiday, the filing and pay-
What is the purpose of estimated tax payment vouchers?
ment may be made on the next succeeding business day. If your
The purpose of the payment vouchers is to provide a means for
tax year is not on a calendar year basis, enter due dates on each
paying any taxes due on income which is not subject to withhold-
voucher to correspond with your fiscal year. Your due dates will be
ing. This is to ensure that taxpayers are able to meet the statutory
the 15th day of the fourth, sixth and ninth months of your fiscal
requirement that taxes due are paid periodically as income is re-
year and the 15th day of your next fiscal year.
ceived during the year.
What if my tax liability changes during the year? Even though
Who must make estimated tax payments on Form 2-ES?
you may not expect to owe estimated tax payments, your income
• Trustees or other fiduciaries, clubs and other unincorporated
or deduction(s) may change during the year so that you will be
organizations that receive income taxable at the entity level that
required to make estimated tax payments. In such case, the pay-
the trustee, other fiduciary or entity expects to owe more than
ment dates are as follows: June 15, if the change occurs between
$400 in taxes on for the taxable year.
April 1 and May 31; September 15, if the change occurs between
• Trustees or other fiduciaries required to deduct and withhold
June 1 and August 31; next January 15, if the change occurs after
payments under M.G.L. c. 62, sec.11A on behalf of a beneficiary
August 31. Use the enclosed Amended Computation Worksheet
of a pooled income fund, a charitable remainder annuity trust or a
if, during the year, you find that your estimated tax is substantially
charitable remainder unitrust.
increased or decreased. The estimated tax may be paid in full at
the time of filing your first payment voucher or in equal install-
• Trustees or other fiduciaries required to deduct and withhold
ments on the remaining payment dates. Be sure to use the ap-
payments under M.G.L. c. 62, sec. 10(g) on behalf of a nonresi-
propriate voucher for each date.
dent grantor of a grantor-type trust.
What if I credited my 2012 overpayment to 2013 estimated
• Trustees or other fiduciaries required to deduct and withhold
taxes? If you overpaid your 2012 income tax and elected to ap-
payments under M.G.L. c. 62, sec. 10(g) on behalf of a nonresi-
ply it as a credit to your 2013 estimated income tax, the amount
dent entity beneficiary that is a trust or other entity. The Form 2-ES
of overpayment may be applied in whole or in part to any install-
prepared by the trustee or other fiduciary must include only the
ment period. If any overpayment credit remains, apply it to the
beneficiary’s employer identification number. The employer iden-
next installment.
tification number of the trust or estate making the payment on
behalf of the nonresident entity beneficiary must not be included.
Be sure to enter the overpayment credit in col. c of the enclosed
For more information, see Directive 07-4.
Record of Estimated Tax Payments. If the credit equals or
exceeds your full estimated tax liability for 2013, you need not file
Fiduciaries filing Form 2 with total net taxable income of $50,000 or
the payment vouchers. Send a payment voucher to the Depart-
more must make all estimated tax payments by electronic means.
ment only when you are making a payment.
Fiduciaries with income less than the above cited threshold may
make payments for estimated fiduciary tax through electronic
Specific Instructions
funds transfer. For more information, visit
1. Fill out the enclosed Estimated Tax Worksheet to determine
Are there penalties for failing to pay estimated taxes? Yes.
your estimated tax.
An additional charge is imposed on the underpayment of any
2. Enter your name, address, Zip code and Federal Identification
installment of estimated tax for the period of that underpayment.
number on the payment voucher.
Use Form M-2210F when filing your annual return to determine
the amount of any penalty due or if you qualify for the exceptions
3. Enter in line 1 on the voucher the amount due from line 10 of
that avoid the penalty.
the worksheet.
When and where do I file estimated tax payments? Generally,
4. Fill in the Record of Estimated Tax Payments.
your estimated tax may be paid in full on or before April 15, 2013,
5. Mail the voucher with check or money order payable to the
or in equal installments on or before April 15, 2013; June 15,
Commonwealth of Massachusetts. Please write your Federal
2013; September 15, 2013; and January 15, 2014. Make your
Identification number in the lower left corner of your check.
check or money order payable to the Commonwealth of Mass-
achusetts. Please write your Federal Identification number in the
If you must amend your estimated tax:
lower left corner on your check or money order. Send a completed
1. Complete the Amended Computation Worksheet.
voucher with each payment to ensure accurate crediting to your
2. Complete lines 1, 2 and 3 of the appropriate voucher.
account. Vouchers should be mailed to Massachusetts Depart-
ment of Revenue, PO Box 7007, Boston, MA 02204. Do not
3. Mail with required payment.
mail your payment with your prior year’s annual return.
If you pay your full estimated tax with your first payment voucher,
you need not file the remaining payment vouchers unless your
income increased during the year and you need to increase your
estimated payment amount.
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