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Changes to 2011 Forms

Updates to the Form 5805 on 03/30/2012 –– Underpayment of Estimated Tax by Individuals and Fiduciaries

We replaced text on Side 2, Part III, Line 13.

Previous Version

Enter the total credit amount from your 2011 Form 540 or Form 540A, line 47 or Form 541, line 23. Long Form 540NR filers, see instructions.

Revised Version

Enter the total credit amount from your 2011 Form 540, line 47; Form 540A, line 40 and line 46; or Form 541, line 23. Long Form 540NR filers, see instructions.

Reason for the changes

To correct a line number reference to Form 540A.

Impact

This may cause taxpayers’ who file Form 540A to incorrectly figure their underpayment and penalty when they select the Annualized Income Installment Method.

The Franchise Tax Board will figure the penalty if it was calculated incorrectly.


Updates to the Form 5805 on 03/14/2012 –– Underpayment of Estimated Tax by Individuals and Fiduciaries

We replaced text on Side 2, Line 13.

Previous Version

Enter the total credit amount from your 2011 Form 540 or Form 540A, line 48 or Form 541, line 23. Long Form 540NR filers, see instructions.

Revised Version

Enter the total credit amount from your 2011 Form 540 or Form 540A, line 47 or Form 541, line 23. Long Form 540NR filers, see instructions.

Reason for the changes

To correct the line reference. The current line number reference is to line 48, tax after credits. The correct line reference should be to line 47, total credits.

Impact

Entering the tax after credits amount instead of the total credits amount could possibly cause the taxpayer to incorrectly figure their underpayment and penalty when they select the Annualized Income Installment Method.

The Franchise Tax Board will figure the penalty if it was calculated incorrectly.

Back to Tax Form Changes for 2011

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