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 DR 0204 Colorado 2020

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Instructions and help about DR 0204 Colorado

Hello everyone, my name is Chris, and on behalf of the Colorado Department of Revenue, Taxation Division, it is my pleasure to walk you through this video on calculating estimated income tax payments and penalties for individual income tax. You can pause or rewind this video at any time to review the information. Please note that estimated payments are generally only required when an individual or couple has significant income from which Colorado income tax is not withheld. Most wage earners who do not have significant amounts of income from other sources generally are not required to remit estimated payments. This video will cover how to calculate estimated payments and estimated tax penalties. For more information on what the estimated tax penalty is and when it applies, please see the video titled "Estimated Individual Income Tax." What do you do if you're not exempt from making estimated income tax payments? The required annual payment is the total amount

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