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 tax form used by Colorado residents to calculate the penalty due based on underpayment of individual estimated tax.

Q: What tax year does Form DR0204 cover?
A: Form DR0204 covers the tax year ending that is specified on the form.

Q: What does Form DR0204 calculate?
A: Form DR0204 calculates the penalty amount due for underpayment of Colorado individual estimated tax.

Q: Who needs to file Form DR0204?
A: Colorado residents who have underpaid their individual estimated tax may need to file Form DR0204.

Q: What information is required on Form DR0204?
A: Form DR0204 requires information such as the tax year, total Colorado tax liability, estimated tax payments, and any additional tax withholdings.

Q: How is the penalty amount calculated on Form DR0204?
A: The penalty amount on Form DR0204 is calculated using a specific formula based on the underpaid estimated tax amount and the number of days the underpayment occurred.

Q: When is Form DR0204 due?
A: Form DR0204 is due on or before the original income tax return due date for the tax year in question.

Q: What happens if I don't file Form DR0204?
A: If you don't file Form DR0204, you may be subject to additional penalties and interest on the underpaid estimated tax amount.

Q: Can I file Form DR0204 electronically?
A: Yes, you can file Form DR0204 electronically if you use approved tax software or a service provider that supports e-filing for Colorado tax forms.