Form 2220, Underpayment of Estimated Tax by Corporations 2023

If so enter the amount from page 2 line 38 on the estimated tax penalty line of the corporation s income tax return but do not attach Form 2220. See instructions. Enter 25 0. 25 of line 5 on page 1 of Form 2220 in each column. Note Large corporations see the instructions for line 10 for the amounts to enter. Cat. No. 11746L Form 2220 2022 Page 2 Figuring the Penalty Enter the date of payment or the 15th day of the 4th month after the close of the tax year whichever is earlier. The amount from line 3. Reasons for Filing Check the boxes below that apply. If any boxes are checked the corporation must file Form 2220 even if it does not owe a penalty. Underpayment of Estimated Tax by Corporations Department of the Treasury Internal Revenue Service Attach to the corporation s tax return. Go to www.irs.gov/Form2220 for instructions and the latest information. Form OMB No. 1545-0123 Employer identification number Name Note Generally the corporation is not required to file Form 2220 see Part II below for exceptions because the IRS will figure any penalty owed and bill the corporation. However the corporation may still use Form 2220 to figure the penalty. See instructions Enter any other taxes for each payment period. See instructions For each period enter the same type of credits as allowed on Form 2220 lines 1 and 2c. See instructions. Part I Required Annual Payment 2a Total tax see instructions. Personal holding company tax Schedule PH Form 1120 line 26 included on line 1 b Look-back interest included on line 1 under section 460 b 2 for completed long-term contracts or section 167 g for depreciation under the income forecast method. Credit for federal tax paid on fuels see instructions. Total* Add lines 2a through 2c. c d. 2b 2c. 2d Subtract line 2d from line 1. If the result is less than 500 do not complete or file this form* The corporation does not owe the penalty. Enter the tax shown on the corporation s 2021 income tax return* See instructions. Caution If the tax is zero or the tax year was for less than 12 months skip this line and enter the amount from line 3 on line 5. See instructions. The corporation is using the adjusted seasonal installment method. Figuring the Underpayment a Installment due dates. Enter in columns a through d the 15th day of the 4th Form 990-PF filers Use 5th month 6th 9th and 12th months of the corporation s tax year. Required installments. If the box on line 6 and/or line 7 above is checked enter the amounts from Schedule A line 38. If the box on line 8 but not 6 or 7 is checked see instructions for the amounts to enter. If none of these boxes are checked enter 25 0. 25 of line 5 above in each column Estimated tax paid or credited for each period. For column a only enter the amount from line 11 on line 15. See instructions. Complete lines 12 through 18 of one column before going to the next column* Enter amount if any from line 18 of the preceding column Add lines 11 and 12. Add amounts on lines 16 and 17 of the preceding column If the amount on line 15 is zero subtract line 13 from line 14.