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General Information

(continued)

Due Dates and

Payment Options

Extensions

If you administer 100 or more trusts, you are required to pay all the ﬁ duciary income tax-

Due Date for Filing and

es electronically. A 5 percent penalty will be assessed if you fail to do so when required.

Paying is April 15, 2015

Pay electronically using e-Services

Th e regular due date for fi ling Form M2 and

• To pay over the Internet—go to , and click on “Login to

e-Services,” or

paying the tax due is April 15, 2015. If you

• To pay by phone—call 1-800-570-3329.

fi le your return according to a fi scal year,

your return and payment are due the 15th

Both options are free and there’s no need to preregister. If you’re using

day of the fourth month following the end

the system for the ﬁ rst time and need a temporary password, call

of the tax year.

651-282-5225 or 1-800-657-3605.

Short-year returns are due by the 15th day

To be timely, you must complete your transaction and receive a conﬁ rmation

number on or before the due date for that payment.

of the fourth month following the month in

which the short year ends.

Pay by credit or debit card

For a fee, you can use your credit or debit card to make a payment through Value Pay-

Extension of Time to File

ment Systems, a national company that partners with federal, state and local govern-

All estates and trusts are granted an auto-

ments to provide credit and debit card payment services.

matic six-month extension to fi le Form M2,

To do so:

if the tax is paid in full by the regular due

• Go to payMNtax.com; or

date. If the tax is not paid by the regular

• Call 1-855-9-IPAY-MN.

due date, the extension of time to fi le is

invalid.

The Department of Revenue does not have any ﬁ nancial agreement with Value Pay-

ment Systems and does not receive any of its fees.

Th is is a fi ling extension only. To avoid

Pay by check

penalties, you must make an extension tax

payment by the regular due date. See Exten-

• Go to our website at and click on Make a Payment.

sion payment in the next section for details.

• Click By Check to create and print a payment voucher. Write your check to

Minnesota Revenue and mail together to the address on the voucher.

Payments

Your check authorizes us to make a one-time electronic fund transfer from your

Th ere are three types of fi duciary income tax

account. You may not receive your cancelled check.

payments—extension payments, estimated

tax payments and tax return payments. (See

Forms are available from our website at .

Payment options above.)

Estimated Payments

Tax Return Payment

Note: If you are currently paying elec-

tronically using the ACH credit method,

Minnesota may require an estate to make

If there is an amount due on line 20 of Form

continue to call your bank as usual. If you

estimated tax payments.

M2, you must make a tax return payment

wish to make payments using the ACH

(see Payment options above). If you’re paying

A trust must make quarterly estimated tax

credit method, instructions are available at

by check, you must send a completed pay-

payments if it has either:

ment voucher with your payment.

• an estimated tax of $500 or more, or

Extension Payment

• any nonresident benefi ciary’s share of

Penalties and Interest

estimated composite income tax of $500

Your tax is due by the regular due date,

Late payment. A late payment penalty is

or more.

even if you’re fi ling under an extension.

assessed on any tax not paid by the regular

Any tax not paid by the regular due date is

Payments are due by the 15th day of the

due date. Th e penalty is 6 percent of the

subject to penalties and interest (see lines

fourth, sixth, and ninth months of the tax

unpaid tax.

17 and 18 instructions on pages 5 and 6).

year and the fi rst month following the end

If you fi le your return aft er the regular due

of the tax year. If estimated tax is required

If you’re fi ling aft er the regular due date, you

date with a balance due, an additional 5 per-

for both the estimated tax and the compos-

can avoid penalty and interest by making

cent penalty will be assessed on the unpaid

ite income tax, include both on the same

an extension payment for the full amount

tax.

quarterly payment.

of the tax owed by the regular due date. For

information about payment options see

Late ﬁ ling. Th ere is also a penalty if you fi le

To make an estimated tax payment, see

Payment options above. Please note that if

aft er the extended due date and owe tax. Th e

Payment options above. If you’re paying by

you administer 100 or more trusts, you are

late fi ling penalty is 5 percent of any tax not

check, send a completed payment voucher

required to pay all fi duciary income taxes

paid by the extended due date.

with your payment. For additional informa-

electronically.

tion, see Fiduciary Estimated Tax instruc-

Interest. You must also pay interest on the

tions.

penalty and tax you are sending in late. Th e

interest rate for 2014 is 3 percent.

2014 Minnesota Income Tax For Estates And Trusts (Fiduciary) Form M2 Instructions - Department Of Revenue Page 2

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