Schedule M15 Underpayment of Estimated Income Tax - Minnesota

What Is Schedule M15?

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

FAQ

Q: What is Schedule M15?
A: Schedule M15 is a form used to calculate and pay any underpayment of estimated income tax owed to the state of Minnesota.

Q: Who needs to file Schedule M15?
A: Individuals and businesses that owe underpayment of estimated income tax to Minnesota are required to file Schedule M15.

Q: How do I calculate the underpayment of estimated income tax?
A: To calculate the underpayment of estimated income tax, you will need to complete Schedule M15 using the information from your federal tax return and Minnesota tax forms.

Q: When is Schedule M15 due?
A: Schedule M15 is typically due on April 15th of the following year, along with your Minnesota state tax return.

Q: What happens if I don't file Schedule M15?
A: If you owe underpayment of estimated income tax to Minnesota and fail to file Schedule M15, you may be subject to penalties and interest.

Q: Is Schedule M15 the same as my federal tax return?
A: No, Schedule M15 is a separate form specific to the state of Minnesota. It is used to calculate and pay underpayment of estimated income tax owed to the state.