Get Dr 1098

This guide provides a clear and supportive overview for completing the Dr 1098 online, which pertains to Colorado's income tax withholding for employers. Understanding this form is essential for businesses to meet their state tax obligations efficiently.

Follow the steps to complete the Dr 1098 online.

1. Press the ‘Get Form’ button to access the Dr 1098. This will allow you to open the form in your online editor.
2. Fill in your Colorado business account number, which is an 8-digit number found on your withholding certificate. Do not enter your FEIN or EFT number here.
3. Enter the filing period for the return. Ensure you are using the correct period end date based on your defined filing frequency.
4. On Line 1, report the total amount of Colorado income tax withheld for the period. If this amount is zero, you will need to file a zero return through the online platform.
5. If you have overpaid for a previous period within the current tax year, complete the applicable worksheet and transfer the overpayment to Line 2.
6. Calculate the net amount due for payment by subtracting Line 2 from Line 1 and enter this amount on Line 3.
7. If you are filing after the due date, you must complete Line 4 for any penalties. This is calculated at 5% of the tax due, or $5, whichever is larger, plus an additional 0.5% for every month past the due date.
8. Complete Line 5 if filing after the due date to include interest on the unpaid balance, calculated at the current statutory rate for each month payment is missed.
9. Add the amounts from Lines 3, 4, and 5 to determine the total amount due for payment, which should be entered on Line 6.
10. Finalize your submission by making the payment either through the online platform or by mailing your check or money order to the Colorado Department of Revenue.

Start the online filing process for the Dr 1098 to ensure your business remains compliant with Colorado state tax regulations.