Form DR0204 Tax Year Ending Computation of Penalty Due Based on Underpayment of Colorado Individual Estimated Tax - Colorado

What Is Form DR0204?

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

FAQ

Q: What is Form DR0204?
A: Form DR0204 is a Colorado tax form used to calculate the penalty due based on the underpayment of Colorado individual estimated tax.

Q: When is Form DR0204 used?
A: Form DR0204 is used when a Colorado resident has underpaid their individual estimated tax and needs to calculate the penalty due.

Q: What is the purpose of Form DR0204?
A: The purpose of Form DR0204 is to determine the penalty amount that an individual owes for underpaying their Colorado estimated tax.

Q: How is the penalty amount calculated?
A: The penalty amount is calculated based on the underpayment of Colorado individual estimated tax and the applicable interest rate for the tax year ending.

Q: Do I need to file Form DR0204 if I have not underpaid my estimated tax?
A: No, you do not need to file Form DR0204 if you have not underpaid your Colorado individual estimated tax.

Q: Is Form DR0204 specific to Colorado residents?
A: Yes, Form DR0204 is specific to Colorado residents who have underpaid their individual estimated tax.

Q: What should I do if I am unsure whether I need to file Form DR0204?
A: If you are unsure whether you need to file Form DR0204, it is recommended to consult a tax professional or contact the Colorado Department of Revenue for guidance.

Q: Is there a deadline for filing Form DR0204?
A: Yes, the deadline for filing Form DR0204 is typically the same as the deadline for filing your Colorado individual income tax return.