REV-1630F: 2024 Underpayment of Estimated Tax by Fiduciaries (REV-1630F) (2024)
Pennsylvania · Pennsylvania DOR · Used for tax years 2024
Pennsylvania Form REV-1630F determines whether an estate or trust paid enough estimated tax for each payment period in 2024. It calculates underpayments, checks for exceptions to the interest penalty, and calculates any interest due.
Who files this form
REV-1630F helps an estate or trust check whether it paid enough estimated tax for each payment period in 2024, claim an exception, and calculate any interest penalty.
A fiduciary who reasonably expects the estate or trust’s 2024 income to exceed $9,500, excluding income subject to Pennsylvania withholding, must declare and pay estimated tax. Estates and residuary trusts are exempt from estimated payments and underpayment penalties for their first two tax years.
For completing REV-1630F:
- If Section I, Line 3 is less than $292, the estate or trust does not have to complete the form.
- If Section I, Line 2 is more than Line 1b, no penalty is owed and the form does not need to be completed.
- Estates and trusts qualifying for Exception 1 may complete the form to calculate the penalty or explain why it should not apply.
- Those claiming Exception 2 must complete its worksheet.
- If there are underpayments in Section I, complete the rest of the form. The form states that it must be filed even if an exception applies.
When it's due
The form lists these estimated payment due dates for tax year 2024:
- April 15, 2024
- June 17, 2024
- September 16, 2024
- January 15, 2025
If a due date falls on a weekend or holiday, use the next business day. Fiscal-year filers have a separate schedule in the instructions included with the form.
What you'll need
Have these returns and records available:
- 2024 Form PA-41: Line 10 tax liability and the credits and withholding on Lines 14 through 17.
- Identification: The estate or trust’s name as shown on PA-41 and its employer identification number.
- Payment records: Estimated tax payment amounts and dates, plus any prior-year overpayment applied to 2024.
- 2023 Form PA-41, if claiming Exception 1: Pennsylvania taxable income from Line 9.
- Income and credit records, if claiming Exception 2: Actual income and applicable credits for the periods shown on the worksheet.
- Special-exception information, if applicable: The 2023 PA-41 amounts from Lines 10 and 14 through 17, and the date the estate or residuary trust was established.
How to file
If you use REV-1630F to calculate the penalty on the estate or trust’s 2024 return, enclose a copy of the completed form, including any applicable worksheet, with Form PA-41.
Include the interest calculated on REV-1630F, Line 16, on PA-41, Line 21.
The supplied text does not give a mailing address or e-file instructions.
Common mistakes
- Using federal calculations: The form expressly says not to use them.
- Entering cents: Use whole dollars only.
- Working across periods too soon: Complete Lines 7 through 10 for one period before moving to the next.
- Counting credits twice: Do not include credits from Line 2 in the estimated payments on Line 6.
- Annualizing credits: Do not annualize any credit in the Exception 2 worksheet.
- Using an exception amount to calculate interest: Use the underpayment on Line 9, not the amounts on Lines 12 or 13.
- Omitting attachments: When using the form to calculate the 2024 penalty, enclose it and any applicable worksheet with PA-41.
Questions people ask
Can an estate or trust owe an underpayment penalty even if it gets a refund?
Yes. Interest is calculated separately for each payment period. A refund or a later payment that makes up an earlier shortfall does not eliminate interest for that earlier period.
What if the estate or trust’s income was earned unevenly during 2024?
Exception 2 uses annualized income to test whether payments and credits were sufficient for each period. Complete the Exception 2 worksheet to show why a penalty should not apply.
Can Exception 1 apply without a 2023 return?
No. Exception 1, based on 2023 income using the 2024 tax rate, does not apply if the estate or trust did not file a return for 2023.
What happens if the penalty is omitted or calculated incorrectly?
The department will calculate the penalty and send correspondence explaining the correct amount. It will reduce the refund or bill the estate or trust for the amount due.