REV-1630: 2024 Underpayment of Estimated Tax by Individuals (REV-1630) (2024)
Pennsylvania · Pennsylvania DOR · Used for tax years 2024
Pennsylvania Form REV-1630 determines whether you paid enough estimated individual income tax for each payment period in 2024. It includes calculations for underpayments, exceptions to the interest penalty, and any interest due to report on Form PA-40.
Who files this form
Use REV-1630 to check whether you paid enough estimated tax for each 2024 payment period, claim an exception, or calculate an underpayment interest penalty. The text says to file the form even if an exception applies, subject to the stop rules below. If you claim Exception 2, you must complete its worksheet.
For 2024, individuals who reasonably expect annual income not subject to Pennsylvania withholding to exceed $9,500 must declare and pay estimated tax.
You do not need to complete REV-1630 if:
- You qualified for 100 percent Tax Forgiveness in 2023.
- Line 2, withholding and allowed credits, is more than Line 1b, 90 percent of your 2024 tax liability.
- Line 3, your 2024 tax liability minus Line 2, is less than $292.
Farmers who meet both special farming tests described in the text should complete REV-1630A instead.
When it's due
For calendar-year taxpayers, the estimated payment due dates for tax year 2024 are:
- April 15, 2024.
- June 17, 2024.
- September 16, 2024.
- January 15, 2025.
If you filed your final 2024 return and paid the total tax due by January 31, 2025, the instructions say to enter the amount paid with the return as the fourth installment.
For the 2024 underpayment calculation, the form uses April 15, 2025 as the ending date for interest calculations when payment has not been made earlier.
What you'll need
Have these returns and records available:
- Your 2024 PA-40: REV-1630 uses tax liability from Line 12 and withholding and credits from Lines 13, 17, 21, 22, and 23.
- Estimated payment records: You need payment amounts and dates, plus any prior-year overpayment applied to 2024.
- Your 2023 PA-40, if applicable: This provides income, Tax Forgiveness, and other amounts needed to check Exception 1 or the special exception.
- Income records by period, if claiming Exception 2: You need actual taxable income for January through March, January through May, January through August, and the full 2024 year.
Enter your name as shown on PA-40 and your Social Security number. For a joint return, use the primary taxpayer’s name.
How to file
If you use REV-1630 to calculate the penalty on your 2024 return, enclose a copy of the form and any applicable worksheet with Form PA-40.
Include the interest calculated on REV-1630, Line 16, on PA-40, Line 27.
The supplied text does not give a mailing address or e-file directions.
Common mistakes
- Using federal calculations: The form specifically says not to use them. Use whole dollars only when completing Lines 15 through 16.
- Working across all payment periods at once: Complete Lines 7 through 10 for one payment period before moving to the next.
- Using exception amounts to calculate the penalty: Use the underpayment on Line 9, not the amounts on Lines 12 or 13.
- Stopping when a column shows an underpayment: The instructions say you must complete the rest of the form if any columns have underpayments.
- Leaving out the attachment: If you calculate the penalty with REV-1630, enclose the form and applicable worksheet with PA-40.
- Overlooking estimated payments when working outside Pennsylvania: Pennsylvania residents working in Indiana, Maryland, New Jersey, Ohio, Virginia, or West Virginia must make estimated payments if their employer does not withhold Pennsylvania personal income tax.
Questions people ask
Can I owe an underpayment penalty even if I get a refund?
Yes. Interest is calculated separately for each payment due date. A refund or a later payment that makes up the shortfall does not necessarily remove interest for an earlier underpayment.
What does Exception 1 cover?
Exception 1 compares your timely 2024 payments and credits with the tax on your 2023 income using the current rate. The calculation also subtracts your 2023 Tax Forgiveness Credit. It is not available if you did not file a 2023 return or filed that return as a part-year resident.
What if my income was uneven during 2024?
The Exception 2 worksheet lets you check whether your estimated payments, withholding, and credits covered at least 90 percent of the tax on your actual taxable income for each listed period. You must complete the worksheet to claim this exception.
What happens if I leave out the penalty or calculate it incorrectly?
The department will calculate the penalty and check Exception 1. It will send correspondence explaining the correct penalty and either reduce your refund or bill you for the amount due.