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How is Nebraska Underpayment Penalty Determined?

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Question
How is Nebraska Underpayment Penalty Determined?

Answer

Estimated Income Tax Payments and Penalty for Underpayment of Estimated Income Tax.

You may owe a penalty if your estimated income tax payments did not total at least:

90% of the tax shown on your 2019 Nebraska return; or

100% of the tax shown on your 2018 return; or

110% of the tax shown on your 2018 return if AGI on the return was more than $150,000; or, if your filing status is married, filing separately, more than $75,000.

 

 See the Individual Underpayment of Estimated Tax, Form 2210N, instructions.


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Article Details
Views: 1976 Created on: Jun 15, 2013
Date updated: Dec 18, 2019
Posted in: States, Nebraska

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