Get Form 5806 Instructions

Filling out the Form 5806 is essential for corporations to determine their estimated tax liability and assess if they owe any penalties for underpayment. This guide provides clear, step-by-step instructions to help users navigate the online process effectively.

Follow the steps to easily complete the Form 5806 online.

1. Press the ‘Get Form’ button to access the Form 5806.
2. Begin by entering the total tax as indicated on the relevant forms, including Form 100, 100W, 100S, or 109, on Line 1.
3. In columns (a) through (d), input the estimated tax installment due dates corresponding to the 15th day of the 4th, 6th, 9th, and 12th months of the taxable year for Line 2.
4. Refer to the 'Accounting Period Less Than 12 Months' table to input the required percentage in Line 3 if applicable.
5. Complete Line 4 by entering the percentage of the amount derived from Line 1 in the appropriate columns based on the guidelines provided.
6. On Line 5a, report any overpayments or credits received from previous returns.
7. If there is an underpayment shown on Line 7, complete Part IV, Exceptions Worksheets, and Part II, Exceptions to the Penalty, as needed.
8. Calculate the penalty by filling out Part III, following the instructions for each line to determine any penalties owed based on your calculations.
9. Review all entries for accuracy and prepare to save your document.
10. Once all information is correctly entered, save your changes, and you may choose to download, print, or share the completed form as needed.

Complete your Form 5806 online today to ensure compliance with tax regulations.