Get Mo-2220 Corporation Underpayment Of Estimated Tax Schedule 2024

Completing the MO-2220 schedule helps corporations determine if they owe an addition to tax for underpayment of estimated taxes. This guide provides clear, step-by-step instructions for filling out the form online.

Follow the steps to complete the MO-2220 schedule effectively.

1. Click ‘Get Form’ button to obtain the form and open it in the editor.
2. Enter the taxable year at the top of the form in the provided fields. This indicates the year for which you are reporting.
3. Fill in the Missouri Tax I.D. and Federal Employer I.D. Number accurately to ensure proper identification of your corporation.
4. In Part 1, Line 1, enter 90% of the estimated 2024 tax or 100% of the 2023 tax, whichever is smaller. If this amount is $250 or less, you do not need to complete this form.
5. Complete Lines 2 through 8 in Part 1 by providing the installment due dates and calculating your payments made, overpayments, and underpayments as instructed.
6. If there is a requirement for exceptions, proceed to Part 2 to evaluate any applicable exceptions and fill those sections accordingly.
7. In Part 3, complete Lines 15 through 26 if no exceptions apply. This part calculates any addition to tax based on underpayments.
8. Lastly, review all entries for accuracy. Users can save changes, download, print, or share the form for submission.

Complete your tax documents online to ensure timely and accurate submissions.