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

Q: What is the purpose of Form DR0204?A: The purpose of Form DR0204 is to determine the penalty amount that an individual taxpayer owes due to underpayment of estimated tax in Colorado.

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

Q: How is the penalty amount calculated on Form DR0204?A: The penalty amount on Form DR0204 is calculated based on the underpayment of estimated tax and the applicable interest rate set by the Colorado Department of Revenue.

Q: When is Form DR0204 due?A: Form DR0204 is due on the same date as the individual income tax return in Colorado, which is typically April 15th.

Q: Are there any exceptions or exemptions to the penalty?A: There may be exceptions or exemptions to the penalty based on certain circumstances, such as a reasonable cause for the underpayment or low income.

Q: Can I e-file Form DR0204?A: Yes, Form DR0204 can be e-filed along with the individual income tax return in Colorado.

Q: What should I do if I have questions about Form DR0204?A: If you have questions about Form DR0204, you should contact the Colorado Department of Revenue or consult with a tax professional for assistance.