Department of the Treasury

Internal Revenue Service

Underpayment of Estimated Tax by Corporations

 See separate instructions.

 Attach to the corporation’s tax return.

OMB No. 1545-0142

Name Employer identification number

Figuring the Underpayment

4

5a

c

d

6

7

8

9

10

11

12

13

14

15

16

17

Total tax (see instructions)

Personal holding company tax (Schedule PH (Form 1120), line 26) included on line 4

Credit for Federal tax paid on fuels (see instructions)

Total. Add lines 5a through 5c

Subtract line 5d from line 4. If the result is less than $500, do not complete or file this form. The corporation

does not owe the penalty

Enter the tax shown on the corporation’s 2001 income tax return (see instructions) Caution: If zero or the tax

year was for less than 12 months, skip this line and enter the amount from line 6 on line 8 

Enter the smaller of line 6 or line 7. If the corporation is required to skip line 7, enter the amount from line 6

Installment due dates. Enter in columns (a) through (d) the

15th day of the 4th (Form 990-PF filers: Use 5th month), 6th,

9th, and 12th months of the corporation’s tax year

Required installments. If the box on line 1 and/or line 2

above is checked, enter the amounts from Schedule A, line

40. If the box on line 3 (but not 1 or 2) is checked, see

instructions for the amounts to enter. If none of these boxes

are checked, enter 25% of line 8 above in each column

Complete lines 12 through 18 of one column before

going to the next column.

Estimated tax paid or credited for each period (see

instructions). For column (a) only, enter the amount from line

11 on line 15

Enter amount, if any, from line 18 of the preceding column

Add lines 11 and 12

Add amounts on lines 16 and 17 of the preceding column

Subtract line 14 from line 13. If zero or less, enter -0-

If the amount on line 15 is zero, subtract line 13 from line

14. Otherwise, enter -0-

Underpayment. If line 15 is less than or equal to line 10, subtract

line 15 from line 10. Then go to line 12 of the next column.

Otherwise, go to line 18

Overpayment. If line 10 is less than line 15, subtract line 10

from line 15. Then go to line 12 of the next column

Complete Part III on page 2 to figure the penalty. If there are no entries on line 17, no penalty is owed.

(a) (b) (c) (d)

Form 2220 (2002)

4

6

5a

5c

5d

8

9

10

11

12

13

14

15

16

17

Form 2220

Cat. No. 11746L

5b

b Look-back interest included on line 4 under section 460(b)(2) for completed long-term

contracts or section 167(g) for depreciation under the income forecast method

7

18

18

Note: In most cases, the corporation does not need to file Form 2220. (See Part I below for exceptions.) The IRS will figure any penalty

owed and bill the corporation. If the corporation does not need to file Form 2220, it may still use it to figure the penalty. Enter the

amount from line 34 on the estimated tax penalty line of the corporation’s income tax return, but do not attach Form 2220.

The corporation is using the annualized income installment method.

The corporation is using the adjusted seasonal installment method.

The corporation is a “large corporation” figuring its first required installment based on the prior year’s tax.

Part I

Part II

Reasons for Filing—Check the boxes below that apply to the corporation. If any boxes are checked, the

corporation must file Form 2220, even if it does not owe the penalty. If the box on line 1 or line 2 applies,

the corporation may be able to lower or eliminate the penalty.

1

2

3

For Paperwork Reduction Act Notice, see separate instructions.

2002
Form 2220 (2002) Page 2

Figuring the Penalty

(a) (b) (c) (d)

Enter the date of payment or the 15th day of the 3rd month

after the close of the tax year, whichever is earlier (see

instructions). (Form 990-PF and Form 990-T filers: Use 5th

month instead of 3rd month.)

19

Number of days from due date of installment on line 9 to the

date shown on line 19

19

20

20

21 Number of days on line 20 after 4/15/2002 and before 1/1/2003 21

25 25

Number of days on line 20 after 6/30/2003 and before 10/1/2003 27

Number of days on line 20 after 9/30/2003 and before 1/1/2004 29

27

Number of days on line 21 × 6%

31

29

365

32

22

Number of days on line 27

22

365

Number of days on line 29

26

365

Number of days on line 31

34

366

Add lines 22, 24, 26, 28, 30, and 32

Penalty. Add columns (a) through (d), of line 33. Enter the total here and on Form 1120, line 33; Form 1120-A, line

29; or the comparable line for other income tax returns

*For underpayments paid after March 31, 2003: For lines 26, 28, 30, and 32, use the penalty interest rate for each calendar

quarter, which the IRS will determine during the first month in the preceding quarter. These rates are published quarterly in an IRS

News Release and in a revenue ruling in the Internal Revenue Bulletin. To obtain this information on the Internet, access the IRS

Web Site at www.irs.gov. You can also call 1-800-829-1040 to get interest rate information.

Number of days on line 20 after 12/31/2003 and before 2/16/2004

× *%

× *%

Underpayment on line 17 × × *%

$$$$

$

$$$$

Number of days on line 20 after 3/31/2003 and before 7/1/2003

$$$$

$$$$

Number of days on line 25

365

× *%

$$$$

26

28

30

28

30

$$$$

Part III

Underpayment on line 17 ×

Underpayment on line 17 ×

Underpayment on line 17 ×

Underpayment on line 17 ×

31

33

34

32

33

Form 2220 (2002)

23

24 Number of days on line 23

365

Underpayment on line 17 × × 5%

Number of days on line 20 after 12/31/2002 and before 4/1/2003 23

24 $$$$
Annualized Income Installment Method and/or the Adjusted Seasonal Installment Method Under Section 6655(e)

(see instructions)

Form 1120S filers: For lines 2, 14, 15, and 16, below, “taxable income” refers to excess net passive income or the amount on which tax

is imposed under section 1374(a) (or the corresponding provisions of prior law), whichever applies.

Part I—Annualized Income Installment Method (a) (b) (c) (d)

1 Annualization periods (see instructions). 1

Enter taxable income for each annualization period (see

instructions). 2

2

3 Annualization amounts (see instructions). 3

First

months

First

months

First

months

First

months

4 4

5

5

6

6

Annualized taxable income. Multiply line 2 by line 3.

7 7

Figure the tax on the amount in each column on line 4 using the

instructions for Form 1120, Schedule J, line 3 (or the comparable

line of the tax return).

8

8

9

Enter any alternative minimum tax and other taxes for each

payment period (see instructions).

9

Total tax. Add lines 5 and 6.

10 10

For each period, enter the same type of credits as allowed on

Form 2220, lines 4 and 5c (see instructions).

11 11

12

Total tax after credits. Subtract line 8 from line 7. If zero or less,

enter -0-.

12

Applicable percentage.

13

13

Multiply line 9 by line 10.

Add the amounts in all preceding columns of line 40 (see

instructions).

Annualized income installments. Subtract line 12 from line

11. If zero or less, enter -0-.

Part II—Adjusted Seasonal Installment Method (Caution: Use this method only if the base period percentage for

any 6 consecutive months is at least 70%. See instructions for more information.)

(a) (b) (c) (d)

First 11

months

First 8

months

First 5

months

First 3

months

14 Enter taxable income for the following periods:

Tax year beginning in 1999 14a

Tax year beginning in 2000 14b

Tax year beginning in 2001 14c

a

b

c

15 Enter taxable income for each period for the tax year beginning

in 2002. 15

25% 50% 75% 100%

Form 2220 (2002) Page 3

Schedule A

First 9

months

First 6

months

First 4

months Entire year

16 Enter taxable income for the following periods:

Tax year beginning in 1999 16a

Tax year beginning in 2000 16b

Tax year beginning in 2001 16c

Divide the amount in each column on line 14a by the amount in

column (d) on line 16a.

17

17

18 Divide the amount in each column on line 14b by the amount in

column (d) on line 16b. 18

Divide the amount in each column on line 14c by the amount in

column (d) on line 16c.

19

19

a

b

c

Form 2220 (2002)
(a) (b) (c) (d)

First 9

months

First 6

months

First 4

months Entire year

20 Add lines 17 through 19. 20

21 Divide line 20 by 3. 21

22 Divide line 15 by line 21. 22

Figure the tax on the amount on line 22 using the instructions for

Form 1120, Schedule J, line 3 (or the comparable line of the

return).

23

23

24 Divide the amount in columns (a) through (c) on line 16a by the

amount in column (d) on line 16a. 24

Divide the amount in columns (a) through (c) on line 16b by the

amount in column (d) on line 16b.

25

25

Divide the amount in columns (a) through (c) on line 16c by the

amount in column (d) on line 16c.

26

26

27 Add lines 24 through 26. 27

28 Divide line 27 by 3. 28

Multiply the amount in columns (a) through (c) of line 23 by

columns (a) through (c) of line 28. In column (d), enter the amount

from line 23, column (d).

29

29

Enter any alternative minimum tax and other taxes for each

payment period (see instructions).

30

30

31 Total tax. Add lines 29 and 30. 31

For each period, enter the same type of credits as allowed on

Form 2220, lines 4 and 5c (see instructions).

32

32

33

33

Add the amounts in all preceding columns of line 40 (see

instructions).

34

34

Adjusted seasonal installments. Subtract line 34 from line 33.

If zero or less, enter -0-.

35

35

Part III—Required Installments

4th

installment

3rd

installment

2nd

installment

1st

installment

36 If only one of the above parts is completed, enter the amount in

each column from line 13 or line 35. If both parts are completed,

enter the smaller of the amounts in each column from line 13 or

line 35. 36

37 Enter 25% of line 8 on page 1 of Form 2220 in each column.

(Note: “Large corporations,” see the instructions for line 10 for

the amounts to enter.) 37

Subtract line 40 of the preceding column from line 39 of the

preceding column.

38

38

39 Add lines 37 and 38. 39

Required installments. Enter the smaller of line 36 or line 39

here and on page 1 of Form 2220, line 10.

40

40

Total tax after credits. Subtract line 32 from line 31. If zero or

less, enter -0-.

Form 2220 (2002) Page 4

Form 2220 (2002)