Instructions For Forms 740 And 740-Ez - Kentucky Individual Income Tax Return - 2011 Page 12
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30LINE 38, Estimated Tax—You may credit all or part of the
help identify your payment properly, write “KY Income
overpayment toward your estimated tax liability for 2012.
Tax—2011” and your Social Security number on the face of
Enter the amount you want credited on Line 38.
the check. Attach check at the left side of Form 740. Place
the check on TOP of any wage and tax statements.
LINE 39—Subtract amounts entered on Lines 37 and/or 38
from Line 32. Enter the difference, if any, on Line 39. This
Pay by Credit Card or ACH Debit—Pay your 2011 Kentucky
amount will be refunded to you. If the total of Lines 37 and
individual income tax by MasterCard, VISA, Discover credit
38 equals the amount on Line 32, enter a zero on Line 39.
card or by ACH Debit through April 17, 2012. Access the
Department of Revenue’s secure Web site (
Note: If the amount of Kentucky tax you overpaid is excessive,
ky.gov) to make electronic payments over the Internet.
obtain a copy of Form K-4A from your employer. If you are
Click on the KY E–Tax logo and select E–Payments—Credit
entitled to additional allowances, file a new Form K-4 with your
Cards and ACH Debits link. If you do not have access to the
employer to reduce the amount of Kentucky tax withheld.
Internet, you may call the Department of Revenue at (502)
564–4581 for assistance with payments.
LINE 40—This is your additional tax due before penalties
and interest.
To make a credit card payment, the following information
is needed: credit card type, credit card number, expiration
Penalties and Interest
date, and the cardholder’s address as it appears on the credit
card billing statement. To make an ACH Debit payment, the
LINE 41(a), Underpayment of Estimated Tax and/or Interest—
following information is needed: bank name, bank account
number, and bank routing number.
If the amount owed is more than $500 and more than 30
percent of the income tax liability on Line 26, you may be
subject to a penalty of 10 percent of the underpayment of
Note: If you cannot pay your tax in full, file your return and
estimated tax.
pay as much as possible by April 17. Contact the Department
of Revenue for additional payment information.
The amount of the penalty may be calculated on Form
2210–K. Form 2210–K may also be used by qualifying farmers
and others to claim exemption to the penalty. If paying the
penalty or claiming an exemption, complete Form 2210–K,
attach it to your return and check the box beside Line 41(a).
Enter the amount of the penalty on Line 41(a). The minimum
penalty is $25.
Failure to make four equal installment payments timely may
result in interest due. See Form 2210-K and instructions.
If your return is filed after April 17, 2012, or any tax due on
the return is paid after April 17, 2012, you may be subject to
additional penalties and interest.
LINE 41(b), Interest—Interest will be assessed at the “tax
interest rate” from the original due date of the return until
the date of payment.
LINE 41(c), Late Payment Penalty—If the amount of tax due as
shown on Line 40 is not paid by the original due date of the
return, a penalty of 2 percent of the tax computed due may
be assessed for each 30 days or fraction thereof that the tax
is past due, not to exceed 20 percent. The minimum penalty
is $10. However, if the amount timely paid is 75 percent of
the tax determined due by the Department of Revenue, no
late payment penalty will be assessed.
LINE 41(d), Late Filing Penalty—If a return is not filed by the
due date or the extended due date, a penalty of 2 percent of
the total tax due for each 30 days or fraction thereof that a
return is not filed may be assessed, not to exceed 20 percent.
The minimum penalty is $10.
Note: Penalties but not interest may be reduced or waived if
reasonable cause for reduction or waiver can be shown.
LINE 43, Amount You Owe—When filing the return, you
must pay any tax due shown on Line 43. Attach check
payable to Kentucky State Treasurer to your return. To
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