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M2, Lines 18–25

Line 21

If you fi le your return aft er the regular

which invests in non-Minnesota state or

Overpayment

due date with a balance due, an additional

municipal securities.

5 percent penalty will be assessed on the

If you have an overpayment, you may choose

If less than 95 percent of the federally tax-

unpaid tax.

to have it directly deposited into your bank

exempt interest dividend from a mutual

account. You may also choose to apply all or

Late Filing. If you are fi ling your return

fund came from bonds issued by Min-

a portion of your overpayment toward your

aft er the extended due date, you must pay a

nesota, you must also include on line 25

2015 estimated tax account.

late fi ling penalty. Th e late fi ling penalty is 5

the portion of the dividend generated by

Line 22

percent of the unpaid tax on line 16.

Minnesota bonds.

2015 Estimated Tax

Payment Method. If you are required to

Nonresident trusts: Non-Minnesota inter-

Skip this line if you owe additional tax or you

pay electronically and do not, an additional

est or dividends received from bonds or a

will be electing to have your entire refund

5 percent penalty applies to payments not

bond mutual fund do not have to be added

directly deposited (see line 24).

made electronically, even if your paper

back to Minnesota income. [M.S. 290.01,

check is sent on time.

subd. 19a(1)]

If you are paying 2015 estimated tax, you

may apply all or a portion of your refund to

Line 18

your 2015 estimated tax. Enter the portion of

Line instructions continued on page 7.

Interest

line 21 you want to apply toward your 2015

Signature

You must pay interest on the unpaid tax and

estimated tax.

penalty from the regular due date until the

Th e return must be signed by the fi duciary

Line 23

total is paid. Th e interest rate for calendar

or authorized offi cer of the organization re-

year 2014 is 3 percent.

Minnesota Income Tax Refund

ceiving, controlling or managing the income

Subtract line 22 from line 21. Th e result is the

of the estate or trust. Th e person must also

To fi gure how much interest you owe, use

amount of your 2014 Minnesota income tax

the following formula with the appropriate

include his or her ID number.

refund that will be refunded to you.

interest rate:

If someone other than the fi duciary pre-

If you want to request your refund to be

Interest =

pared the return, the preparer must also

direct deposited into your bank account,

(tax + penalty) x # of days late x interest rate ÷ 365

sign. Th e preparer’s ID number and phone

complete line 24. Your bank statement will

number should also be included.

Line 19

indicate when your refund was deposited to

Trusts Only

You may check the box in the signature area

your account. Otherwise, skip line 24 and

Skip this line if you are an estate.

to give us your permission to discuss your

your refund will be sent to you in the mail.

return with the paid preparer. Th is autho-

Trusts: In addition to any penalties you may

Line 24

rization remains in eff ect until you notify

owe on line 17, you may also owe an addi-

To Request Direct Deposit of Refund

the department in writing (either by mail or

tional charge for underpaying or not paying

If you want your refund to be directly depos-

fax) that the authorization is revoked.

estimated tax. You may owe this additional

ited into your checking or savings account,

charge if:

Checking the box does not give your pre-

enter the routing and account numbers.

parer the authority to sign any tax docu-

• line 16 of Form M2 is $500 or more,

ments on your behalf or to represent you at

You can ﬁ nd your bank’s routing number and

• any nonresident benefi ciary’s share of the

account number on the bottom of your check.

any audit or appeals conference. For these

composite income tax on line 13 is $500

types of authorities, you must fi le Form

or more, or

REV184, Power of Attorney.

• you did not pay the required amount of

E-mail Address

estimated tax by the due dates. Th is is

Th e routing number must have nine digits.

true even if you have a refund.

If the department has questions regarding

Th e account number may contain up to 17

your return and you want to receive corre-

Complete Schedule EST, Additional Charge

digits (both numbers and letters). Enter the

spondence electronically, indicate the e-mail

for Underpayment of Estimated Tax (for

number and leave out any hyphens, spaces

address below your signature. Check a box

Trusts, Partnerships and S Corporations), to

and symbols.

to indicate if the e-mail address belongs to

determine the additional charge for under-

If the routing or account number is incorrect

the fi duciary or paid preparer.

paying estimated tax, if any, to enter on line

or is not accepted by your fi nancial institu-

19. Include Schedule EST with your return.

By providing an e-mail address, you are

tion, your refund will be sent to you in the

authorizing the department to correspond

Line 20

form of a paper check.

with you or the designated person over the

Amount Due

By completing line 24, you are authorizing the

Internet and you understand that the en-

Add lines 16 through 19. Th is is the amount

department and your fi nancial institution to

tity’s nonpublic tax data may be transmitted

of tax you owe.

initiate electronic credit entries, and if neces-

over the Internet.

sary, debit entries and adjustments for any

Be sure to check the appropriate box on line

You also accept the risk that the data may

credits made in error.

24 to indicate your method of payment. See

be accessed by someone other than the

Payment options on page 2.

Line 25

intended recipient. Th e department is not li-

State and Municipal Bond In terest

able for any damages that the fi duciary may

Enter the amount of interest or dividends

incur as a result of an interception.

received from bonds or a bond mutual fund

2014 Minnesota Income Tax For Estates And Trusts (Fiduciary) Form M2 Instructions - Department Of Revenue Page 6

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