Form 400-ES Declaration of Estimated Fiduciary Income Tax - Delaware

What Is Form 400-ES?

This is a legal form that was released by the Delaware Department of Finance - Division of Revenue - a government authority operating within Delaware. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form 400-ES?
A: Form 400-ES is the Declaration of Estimated Fiduciary Income Tax for Delaware.

Q: Who needs to fill out Form 400-ES?
A: Form 400-ES is for fiduciaries who need to make estimated tax payments for their Delaware income tax.

Q: What is a fiduciary?
A: A fiduciary is a person or entity that has the legal authority and responsibility to manage and distribute assets on behalf of someone else, such as an executor of an estate or a trustee of a trust.

Q: What is estimated tax?
A: Estimated tax is a way for taxpayers to pay their tax liability throughout the year, rather than in one lump sum at tax filing time.

Q: Why do fiduciaries need to make estimated tax payments?
A: Fiduciaries need to make estimated tax payments to ensure that enough tax is paid in by the appropriate deadlines, similar to how individuals make estimated tax payments.

Q: When are estimated tax payments due?
A: Estimated tax payments for fiduciaries are due on the 15th day of the 4th, 6th, 9th, and 12th months of the fiscal year.

Q: What happens if a fiduciary does not make estimated tax payments?
A: If a fiduciary does not make estimated tax payments or underpays their estimated tax, they may be subject to penalties and interest.

Q: Is there a penalty for filing late?
A: Yes, there is a penalty for filing Form 400-ES late. The penalty is a percentage of the underpayment of estimated tax for each installment that was not paid on time.