2022 Underpayment of Estimated Tax by Individuals (REV-1630)

Name as shown on PA-40 Social Security Number

1a. 2022 Tax Liability from Line 12 of Form PA-40. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1a.

1b. Multiply the amount on Line 1a by 0.90. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1b.

2. Add the amounts reported on Lines 13, 17, 21, 22 and 23 of Form PA-40. . . . . . . . . . . . . . . . . 2.

3. Subtract Line 2 from Line 1a. If result is less than $246, stop here. . . . . . . . . . . . . . . . . . . . . . . 3.

4. Subtract Line 2 from Line 1b. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.

5. Divide Line 4 by the number of payments required for the

year (usually four). Enter the result in the appropriate

columns. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.

6. Estimated tax paid including carryover credit from

previous tax year. See instructions. . . . . . . . . . . . . . . . . . 6.

7. Overpayment (from Line 10) from a previous period.

See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.

8. Add Lines 6 and 7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.

9. Underpayment. Subtract Line 8 from Line 5. If Columns a

through d are all zero, stop here. No penalty is due. . . . . 9.

10. Overpayment. Subtract Line 5 from Line 8. If Columns a

through d all show an overpayment, stop here.

No penalty is due. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.

a b c d

April 15, 2022 June 15, 2022 Sept. 15, 2022 Jan. 17, 2023

A. Divide the amount reported in Section I, Line 2 by 4. Enter

the amount in each of the four columns. . . . . . . . . . . . . . . . .

B. Enter the estimated payments reported in Section I, Line 6. Enter

the payments under the installment period in which they were paid.

C. Add Lines A and B under each column. . . . . . . . . . . . . . . . . .

a b c d

EXCEPTION 1 WORKSHEET – Section II, Line 11 Calculation April 15, 2022 June 15, 2022 Sept. 15, 2022 Jan. 17, 2023

11. Enter the amounts listed on Exception 1 Worksheet,

Line C. For Column a this is the amount from Line C

above. For Column b add the amounts of Columns a and

b from Line C; for Column c add the amounts from

Columns a, b and c; and for Column d add the amounts

from Columns a, b, c and d. . . . . . . . . . . . . . . . . . . . . . . . . . . 11.

12. Exception 1 – Tax on 2021 income using 2022 tax rate.

See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.

You will not have to pay interest on the underpayment if the tax payments you made as shown in Section II, Line 11 were paid on time and the

amount shown on Section II, Line 11 is equal to or more than the amount in Section II, Line 12 or Line 13, for the same payment period. This

exception does not apply if you did not file a return for the prior year or if the prior year’s return was filed as a part-year resident.

If the amount on Line 11 is equal to or greater than Line 12, you do not owe penalty for that quarter and you should place an X in the applicable box on

Line 14a or 14b for that quarter.

ESTIMATED PAYMENT DUE DATES - Fiscal filers see instructions.

2022

REV-1630

UNDERPAYMENT OF ESTIMATED TAX

BY INDIVIDUALS

BEFORE YOU BEGIN: Did you qualify for 100 percent tax forgiveness in 2021? If yes, stop here. You do not owe an estimated underpayment penalty

and are not required to complete this form or include it with your return. If no, continue to see if you qualify for any of the exceptions.

CALCULATING THE UNDERPAYMENT

SECTION I

EXCEPTIONS TO INTEREST

SECTION II

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A. Enter your actual taxable income for the period. . . . . . . . . . . .

B. Multiply Line A by 3.07 percent (0.0307). This is the tax due. .

EXCEPTION 2 WORKSHEET – Section II, Line 13 Calculation 01/01/22 - 03/31/22 01/01/22 - 05/31/22 01/01/22 - 08/31/22 01/01/22 - 12/31/22

13. Exception 2 - Tax on 2022 income over three, five, eight Enter 90% Enter 90% Enter 90% Enter 90%

and 12 month periods. Enter 90 percent of Exception 2

Line B. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13.

EXCEPTION 2 WORKSHEET – Use this worksheet if your income was earned unevenly throughout 2022 and your 2022 estimated tax payments, tax

withholdings and credits equal at least 90 percent of the tax on your taxable income for the periods.

If the amount on Line 11 is equal to or greater than Line 13, you do not owe penalty for that payment period and you should place an X in the applicable

box on Line 14a or 14b for that quarter.

COMPLETE LINES 15 THROUGH 16 IF NONE OF THE EXCEPTIONS APPLY.

(SEE THE INSTRUCTIONS AND THE EXAMPLE OF INTEREST CALCULATION.) DO NOT USE FEDERAL CALCULATIONS.

9. Enter the amounts from Section I, Line 9. . . . . . . . . . . . . . . . 9.

14a. Number of days after due date of estimated payment to and

including date of annual payment or Dec. 31, 2022,

whichever is earlier. If Dec. 31 is earlier, enter 260, 199 and

107 respectively. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14a.

14b. Number of days after due date of estimated payment to and

including date of annual payment or April 18, 2023,

whichever is earlier. If April 18 is earlier, enter 91. . . . . . . . . . 14b.

14c. Number of days after Dec. 31, 2022 to and including date of

annual payment or April 18, 2023, whichever is earlier. If

April 18 is earlier, enter 108 in each column. . . . . . . . . . . . . . 14c.

15a. Number of days on Line 14a times 0.000082 times

underpayment on Line 9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15a.

$ $ $

15b. Number of days on Line 14b times 0.000192 times

underpayment on Line 9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15b.

15c. Number of days on Line 14c times 0.000192 times

underpayment on Line 9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15c.

$ $ $

16. Interest. Add amounts on Lines 15a, b and c. Include on Line 27 of Form PA-40. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.

SPECIAL EXCEPTION INFORMATION

Please enter the following information to verify the correct application of the special exceptions rule:

A. Enter the amount of your 2021 PA Tax Liability (Line 12 from your 2021 PA-40 tax return), less the amounts from

Lines 13, 17, 22 and 23 from your 2021 PA-40 tax return. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

B. Did you make estimated payments beginning in the period in which it became Yes No

known that your income not subject to tax exceeded $8,000?

If the amount for Line A is $246 or greater, or if you answer “No” to Line B, you do not qualify for the special exception. To be eligible for the special

exception, you must also make estimated payments beginning in the period in which it becomes known that income not subject to withholding will

exceed $8,000. See the instructions for “DETERMINING THE UNDERPAYMENT AMOUNT ON WHICH THE ADDITION OF INTEREST MAY BE

ASSESSED” on Page 4 for additional information.

CALCULATING INTEREST

SECTION III

Social Security Number

Name as shown on PA-40:

EXCEPTIONS TO INTEREST cont.

SECTION II

Filing Tips

The department calculates the following using two decimal places:

• Line 1b and Lines 4 through 10 of Section I;

• Lines A, B, C and 11 of Exception 1 of Section II;

• Line 13 of Exception 2 of Section II; and

• Lines 14a through 16 of Section III

Rounding to whole dollars is utilized only on the following:

• Lines 1a, 2 and 3 of Section I;

• Line 12 of Exception 1 of Section II; and

• Lines A and B of Exception 2 of Section III.

FOR ADDITIONAL INFORMATION, PLEASE SEE THE “EXAMPLE OF INTEREST CALCULATION” ON THE LAST PAGE OF THE INSTRUCTIONS

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1REV-1630www.revenue.pa.gov

2022

Instructions for Form REV-1630

Underpayment of Estimated Tax by Individuals

REV-1630 IN (EX) MOD 07-22

The estimated underpayment penalty is an interest penalty

for the failure to make estimated tax payments or the failure

to make estimated tax payments in the correct amount. The

interest rate used to determine the penalty is based upon the

interest rate determined each year on the underpayment of

taxes. Under Pennsylvania personal income tax law, any

individual who reasonably expects annual income for the tax

year to exceed $8,000, disregarding income subject to PA

withholding, must declare and pay estimated tax.

IMPORTANT: If you are a Pennsylvania resident

working in Indiana, Maryland, New Jersey, Ohio,

Virginia or West Virginia and your employer does not withhold

PA personal income tax, you are required to make estimated

payments.

With the passage of Act 85 of 2012, taxpayers who qualified

for 100 percent Tax Forgiveness in the previous tax year are

not subject to the estimated underpayment penalty in the

subsequent tax year. Taxpayers who qualified for less than

100 percent Tax Forgiveness may take into account the Tax

Forgiveness Credit in the calculation of Exception 1 in

determining if they are subject to the penalty. See the

instruction for Line 12.

FARMERS

There are special estimated tax payment rules that apply to

farmers. These rules apply to those who cultivate, operate or

manage a farm for profit or gain. A farm is a tract of land

devoted to agriculture, pasturage, stock raising or some allied

industry. It includes dairy, stock and poultry farms.

If you meet both of the following tests, you do not owe interest

for underpaying estimated tax:

1) Your gross income from farming for the taxable year is at

least 2/3 of your gross income from all sources for the

taxable year; and

2) You filed your tax return and paid the entire amount due

by March 1 of the following year, or you paid all of your

estimated tax by Jan. 17, 2023.

If you meet these tests, please complete REV-1630A,

Underpayment of Estimated Tax by Individual Farmers. If you

do not meet both tests, you are not considered a farmer for

PA tax purposes. Please complete this form to see if you

qualify for any other exceptions to the interest penalty.

PURPOSE OF FORM

Use this form to determine if you paid enough estimated tax

in each of the four payment periods (Section I). If you did not

pay enough tax in any payment period, then there is an

underpayment for that period and a corresponding interest

penalty imposed. Use this form to determine if any exceptions

to the interest penalty apply (Section II). If an exception does

not apply, use this form to calculate the interest due (Section

III). This form must be filed even if one of the exceptions

applies. A different exception may apply for each payment

period.

NOTE: If you are using this form to calculate penalty

on your 2022 return, enclose a copy of this form

(including applicable worksheet) with Form PA-40.

WHO MUST COMPLETE

Taxpayers who do not make the correct amount of estimated

payments or those who do not meet any of the exceptions to

the interest penalty and have an estimated underpayment

penalty may complete the form to determine the amount of

their estimated underpayment penalty. Taxpayers who meet

the qualifications for Exception 1 for one or more of the

estimated tax payment periods may complete the form to

calculate the penalty or to show why the penalty should not

be applied. Taxpayers who meet the qualifications for one or

more of the estimated tax payment periods under Exception

2 in Section II must complete the Exception 2 Worksheet to

show why the penalty should not be applied.

IMPORTANT: The department will use its computer

system to calculate the penalty based upon the tax

liability calculated by the department and the estimated tax

payments received and carryover credit applied for a taxpayer

for the tax year. The department will also determine any

exceptions to the penalty for any of the estimated tax payment

periods using Exception 1 when calculating the penalty. If a

taxpayer does not include the penalty or incorrectly calculates

the penalty, the department will send correspondence to a

taxpayer notifying them of the correct penalty and reduce the

refund amount or bill a taxpayer for the amount due.

WHO MUST PAY INTEREST FOR

UNDERPAYMENT OF ESTIMATED TAXES

If you did not pay any estimated tax or did not pay the correct

estimated tax by any due date or if you did not pay the entire

2022 estimated tax in one payment on or before April 15,

2022, you may be charged an interest penalty. This is true

even if you are due a refund when you file your PA income

tax return. Interest is calculated separately for each due date.

Therefore, you owe interest for an earlier payment due date,

even if you paid enough tax later to make up for the

underpayment.

GENERAL INFORMATION

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2 REV-1630 www.revenue.pa.gov

WHEN INTEREST IS APPLIED

In general and unless you qualify for the farming exemption,

there is an underpayment if your 2022 prepayments were not:

● 90 percent of the estimated tax due for the payment period;

● 100 percent of the estimated tax due for the payment

period calculated by multiplying the taxable income on Line

11 of 2021 Form PA-40 by 3.07 percent (0.0307). This

provision does not apply if you did not file a prior year’s

return or if you filed your prior year’s return as a part-year

resident.

CAUTION: You can only use your prior year’s tax

liability as a safe harbor if the rates for the prior year

and the current year are the same. If the tax rate changes,

use the prior year’s income multiplied by the current year’s

rate to calculate the safe harbor.

The total estimated tax and credits for tax year 2022 must be

equal to or greater than the 2021 tax year liability per

installment period.

IDENTIFICATION INFORMATION

Name

Enter the name of the taxpayer. If a jointly filed return, enter

the name of the primary taxpayer (name shown first on the

PA-40, Personal Income Tax Return).

Social Security Number

Enter the Social Security number (SSN) of the taxpayer.

CALCULATING THE UNDERPAYMENT

Line 1a. Insert the tax liability figure from Line 12 of your 2022

PA-40 tax return.

Line 1b. Calculate 90 percent of Line 1a by multiplying Line

1a by 0.90.

Line 2. The credits allowed to reduce the tax due are also

used to reduce your tax liability for this calculation. Add

together the following lines from Form PA-40: Line 13 (Total

PA Tax Withheld), Line 17 (Nonresident Tax Withheld), Line

21 (Tax Forgiveness Credit), Line 22 (Resident Credit) and

Line 23 (Total Other Credits). If Line 2 is more than Line 1b,

you do not owe a penalty and do not need to complete this

form.

Line 3. Subtract Line 2 from Line 1a. If the amount is $246 or

more, complete Lines 4 through 10. If less than $246, you did

not owe estimated income tax and do not have to complete

this form.

Line 4. Subtract Line 2 from Line 1b. This amount is used to

determine if you have an underpayment. If you have an

underpayment, the penalty is calculated on this amount.

Line 5. Divide Line 4 by 4 and enter the amount in each of

the four Columns a through d.

Fiscal year filers. For Column a use the 15th day of the

fourth month of the tax year, for Column b use the 15th day

of the sixth month of the tax year, for Column c use the 15th

day of the ninth month of the tax year and for Column d use

the 15th day of the first month following the close of the tax

year.

Line 6. Line 6 represents the timely payments credited to your

account for each of the four payment due dates. If you made

a payment after the due date, do not include that amount on

Line 6. Each column will indicate a total of your estimated

payments for the period. To calculate the amounts to be

entered on Line 6, use the following steps and insert the total

result for each column in the appropriate column. Do not

include any credits from Line 2.

In Column a, enter the amount of 2022 estimated tax

payment(s) made on or before April 15 intended for the first

estimated tax payment due date. Include in your estimated

tax payments in Column a any overpayment of tax from your

prior year’s return that you elected to apply to this year’s tax.

In Column b, enter the amount of 2022 estimated payments

made on or before June 15 intended for the second estimated

tax payment due date. In Column c, enter the amount of 2022

estimated payments made after June 15 and on or before

Sept. 15. In Column d, enter the amount of 2022 estimated

payments made after Sept. 15 and on or before Jan. 17,

2023.

If you filed a final return and paid the total tax due by Jan. 31,

2023, enter the amount paid with your return as the fourth

installment.

IMPORTANT: Complete Lines 7 through 10 for one

payment period before you go to the next payment

period.

Line 7. If you have an overpayment on Line 10 for the prior

payment period, enter that amount. This does not apply to the

April 15th payment period (Column a).

Line 8. Add Lines 6 and 7 for each of the columns to

determine the total payments applied to the payment period.

This figure will be used to determine if you have an

underpayment.

Line 9. If Line 5 is greater than Line 8 for any column,

calculate the amount of the underpayment for the payment

period by subtracting Line 8 from Line 5. If Line 8 is greater

than Line 5 for any column, subtract Line 5 from Line 8 and

enter it in the appropriate column and on Line 7 of the next

payment period. If Line 5 is not greater than Line 8 for any of

the Columns a through d, enter zero on Line 9. If all Columns

9a through 9d are zero, stop here. You do not owe the interest

penalty. If there are overpayments but not in every quarter,

go to the applicable columns for Lines 14a and 14b and place

an X in each column where an overpayment exists.

Line 10. Calculate the amount of the overpayment for the

payment period. Enter this amount on Line 7 of the next

payment period. If you have an overpayment in the Jan. 17th

FORM INSTRUCTIONS

LINE INSTRUCTIONS

SECTION I

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3REV-1630www.revenue.pa.gov

payment period, do not carry it to any other space on the

form.

If Line 9 is zero for all payment periods, you do not owe

interest penalty. If you have an underpayment on Line 9 in

any payment period, continue on to Section II, Exception 1

Worksheet.

NOTE: If there are columns with underpayments, you

must complete the rest of this form.

EXCEPTIONS TO INTEREST

Line 11. Enter the result of Exception 1 Worksheet, Line C.

Line 12. Exception 1 applies if your 2022 estimated tax

payments and credits equal the tax that would have been due

on your 2021 income using the current rate. This exception

does not apply if you did not file a return for the prior year or

if the prior year’s return was filed as a part-year resident.

To calculate, multiply Pennsylvania taxable income from your

2021 return by 3.07 percent (0.0307). From this amount,

subtract the amount of the Tax Forgiveness Credit on Line 21

of your 2021 return and enter the amount in Column d. Enter

25 percent of the Column d amount in Column a, 50 percent

of the Column d amount in Column b and 75 percent of the

Column d amount in Column c. If the amount on Line 11 is

equal to or greater than the amount on Line 12 in any of the

columns, you do not owe interest for that payment period and

you should place an X in the applicable line 14a or 14b for

that payment period. If the amount on Line 11 is less than the

amount on Line 12 for any payment period, continue on to

exception 2 for those periods.

Line 13. Exception 2 applies if your 2022 estimated tax

payments and credits equal at least 90 percent of the tax on

your actual taxable income for the periods from Jan. 1 to

March 31; Jan. 1 to May 31; Jan. 1 to August 31; and Jan. 1

to Dec. 31. Enter 90 percent of Exception 2 Worksheet, Line

B. If Line 11 is equal to or greater than Line 13, the exception

applies for that payment period and you should place an X in

the applicable line 14a or 14b for that payment period.

CALCULATING INTEREST

Use this part of the form to calculate the amount of the interest

penalty due. If one of the exceptions applies for any of the

periods, place an X in the boxes under the column for that

period. You only have to complete Lines 14 and 15 for the

periods in which interest is due. The underpayment is the

amount on Line 9 for the appropriate payment period.

LINES 14a, 14b AND 14c.

Line 14a. Applies to first, second and third payment periods

for calendar year filers and any fiscal filer payments that were

due on or before Dec. 31. If no estimated payments were

made during the year, use the number of days after the

estimated payment due date to and including the date of the

annual payment or Dec. 31, whichever is earlier. If Dec. 31 is

earlier, enter 169 in Column a, 169 in Column b and 107 in

Column c. Fiscal filers adjust according to estimated payment

due dates.

Line 14b. If no estimated payment was made for the fourth

payment period, use the number of days after the estimated

payment due date to and including date of annual payment

or April 18, 2023, whichever is earlier. If April 18 is earlier,

enter 91 in Column d. Fiscal filers adjust according to due

date of annual return.

Line 14c. Applies to first, second and third payment periods

for calendar year filers and any fiscal filer payments that were

due after Dec. 31. If no estimated payments were made, use

the number of days after Dec. 31, 2022 to and including date

of annual payment or April 18, 2023, whichever is earlier. If

April 18 is earlier, enter 108 in each column. Fiscal filers

adjust according to due date of the annual return.

If a taxpayer fully pays an underpayment after a required due

date but prior to or on the next due date, then the number of

days after due date of estimated payment in Lines 14a, 14b

or 14c must be adjusted. To make the adjustment, count the

days from the due date to the date of payment.

If the taxpayer partially pays an underpayment after a

required due date but prior to or on the next due date, that

partial payment is considered a reduction, on the payment

date, to the oldest payment period’s underpayment. For such

situation, the taxpayer will need to adjust this part accordingly.

EXAMPLE OF WHEN ESTIMATED

UNDERPAYMENT APPLIES:

Tax liability for current tax year $3,599

Less current tax year’s 1,344

withholding and credits $2,255

Current withholding and credits must be less than the smaller

of the following to be penalized for estimated under-payment:

• $3,239 (90 percent of the tax liability on the current return);

• $3,502 (PA taxable income on prior year’s return multiplied

by the current year’s tax rate).

In this case, $1,344 is less than both safe harbors.

Since the current PA tax liability minus current withholding and

credits is at least $246, and since the current year withholding

and allowable credits are less than $3,239, the taxpayer

should fill out Form REV-1630 to determine if there is an

underpayment of estimated tax. Please see the department’s

website for additional examples of when the underpayment

of estimated tax penalty is applicable and when the

exceptions apply.

DETERMINING IF THERE IS AN UNDERPAYMENT

AND HOW THE DEPARTMENT DETERMINES

THE DECLARATION

A taxpayer makes an underpayment of quarterly estimated

tax liability whenever he fails to declare and pay all or any

part of the amount declared as the quarterly estimated

payment on a timely basis.

SECTION III

SECTION II

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DETERMINING THE UNDERPAYMENT AMOUNT

UPON WHICH THE ADDITION OF INTEREST

MAY BE ASSESSED

The amount to be considered is that the taxpayer should have

paid in estimated taxes if the taxpayer could have used the

PA Tax Liability (Line 12) as shown on his PA-40 tax return.

The underpayment is the difference between the tax liability

times 90 percent, minus any credits for the applicable

payment period (calculated by dividing 90 percent of line 12

of Form PA-40 minus any withholding and credits, by the

number of estimated payment periods) and the estimated

payments paid on time for that payment period.

IMPORTANT: The amounts calculated in each of the

columns on Lines 12 and 13 for Exceptions 1 and 2

cannot be used to determine the underpayment penalty. You

must use Line 9 in this calculation. However, if you had no

estimated tax payment requirements for a previous tax year

due to the tax liability being below the threshold required for

estimated tax payments to be made, or because you were

eligible for 100 percent Tax Forgiveness, special exceptions

apply and you may not owe penalties for the payment periods

prior to meeting the estimated payment requirements.

Special exceptions only apply if a taxpayer files an original or

amended PA-40 ES (I), Declaration of Estimated or Estimated

Withholding Income, and makes the full estimated tax

payment due in the first period in which it is determined the

estimated payment requirements were met for a year

following a year in which no estimated payments were due or

required to be made.

If the PA-40 ES is not filed in the correct payment period, or

if the full amount of the estimated tax payment is not made in

that period, the special exception does not apply for any

payment periods, and the estimated underpayment penalty

will apply for all payment periods in which the estimated tax

underpayment exists.

In situations where conditions exist for the exception to apply,

complete the Exception 2 worksheet to indicate the quarters

in which the income (Line A) was earned and the tax liability

(Line B) for those periods. Place an X in the applicable box

on Line 14a to indicate that you do not owe a penalty for each

payment period the special exception applies. You must also

complete the “Special Exception Information” section in

Section III by entering the information requested for Lines A

and B.

BILLING THE ADDITION OF INTEREST

The interest to be added to the taxpayer’s tax liability for an

underpayment is to be billed per quarter. The interest to be

added is based upon the amount of the underpayment per

payment period.

Interest is assessed upon the under-payment amount until

the taxpayer has made payments for the applicable payment

period that equal the amount of the declared estimated

payment liability. However, interest may not be imposed

beyond the due date of the taxpayer’s taxable year (typically

April 15th) for any quarter.

If a taxpayer makes a late payment for a payment period in

which an under-payment exists and his total payments for that

period are less than the amount of the declared estimated tax

liability or the required estimated amount, interest is billed

upon the underpayment amount. However, as soon as a

taxpayer makes a late payment for a payment period in which

an underpayment exists, the underpayment is reduced by the

late payment amount even if the total payment amount is less

than the amount of the taxpayer’s declared estimated tax

liability.

When the taxpayer has made payments for the

underpayment period equal to his declared estimated tax

liability, the department does not impose interest for that

payment period.

1st Estimated Payment 2nd Estimated Payment 3rd Estimated Payment 4th Estimated Payment

Due Date Due Date Due Date Due Date

9. Underpayment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

14a. Days late through 12/31/22 (1st, 2nd and 3rd estimated

payment due dates) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14a.

14b. Days late 01/17/23 through 04/18/23 (4th estimated

payment due date). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14b.

14c. Days late 01/01/23 to 04/18/23 (1st, 2nd and 3rd estimated

payment due dates) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14c.

15a. Days on Line 14a times 0.000082 (2022 daily interest rate)

times underpayment of $473.75 . . . . . . . . . . . . . . . . . . . 15a.

15b. Days on Line 14b times 0.000192 (2023 daily interest rate)

times underpayment of $473.75 . . . . . . . . . . . . . . . . . . . 15b.

15c. Days on Line 14c times 0.000192 (2023 daily interest rate)

times underpayment of $473.75 . . . . . . . . . . . . . . . . . . . 15c.

16. Total Lines 15a, 15b and 15c to determine penalty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

$473.75 $473.75 $473.75 $473.75

260

$10.10

$8.28

$59.73

16.

$9.82

$7.73 $4.16

108108108

199 107

EXAMPLE OF INTEREST CALCULATION

4 REV-1630 www.revenue.pa.gov

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