FormPW-U: Underpayment of Estimated Withholding Tax by Pass-Through Entities (2024)
Wisconsin · Wisconsin DOR · Used for tax years 2024
Wisconsin Form PW-U calculates a pass-through entity’s underpayment of estimated withholding tax and the interest due for 2024. Filed with Form PW-1, it also includes calculations for other interest and penalties and a worksheet for the annualized income installment method.
Who files this form
Wisconsin Form PW-U is for pass-through entities computing underpayment of estimated withholding tax and the related interest. The 2024 form says to file it with Wisconsin Form PW-1.
Complete Part II only if Form PW-1 is filed after the unextended due date and shows withholding tax due. Complete Part III only if you use the annualized income installment method.
When it's due
For tax year 2024, Part II, line 21 identifies the payment due date as the 15th day of the month that includes the unextended due date, after the end of the taxable year.
The form does not print specific calendar dates for the estimated withholding installments. Line 5 directs you to the instructions for those dates, but no instructions were provided.
What you'll need
Have the information requested by the form ready:
- The entity's name and federal employer identification number.
- 2024 withholding tax computed and 2024 tax withheld.
- 2023 withholding tax due from Form PW-1, if applicable.
- Estimated payments, withholding, installment due dates, and payment dates.
- Form PW-1 filing date and net withholding tax information, if completing Part II.
- Wisconsin net income for each annualization period, adjustments, applicable tax rate, and credits, if completing Part III.
How to file
File Form PW-U with Wisconsin Form PW-1. The supplied form does not give a mailing address or e-filing directions.
Add the interest amounts from Part I, lines 15 and 16, and enter the total on line 17. Transfer that total to PW-1, line 9, unless the return is filed after the unextended due date and shows withholding tax due. In that case, enter it on Part II, line 22.
If you complete Part II, transfer the total from line 26 to PW-1, line 10.
Common mistakes
- Do not complete Part II unless PW-1 is filed after the unextended due date and shows withholding tax due.
- Complete Part III only when using the annualized income installment method. Finish one column through line 45 before starting the next column.
- Exclude estimated tax paid from refundable credits on Part III, line 35.
- Apply payments on Part II, line 20 to the 18% per year column first.
Questions people ask
How is the 2024 withholding tax due calculated?
Subtract 2024 tax withheld on line 1b from 2024 withholding tax computed on line 1a. Enter the result on line 1c.
When can I use the smaller of the current-year and prior-year amounts?
Line 4 says to use the smaller of line 2 or line 3 if the preceding taxable year's return covered 12 months. Otherwise, use line 2. Line 2 is 90% of the 2024 withholding tax due, and line 3 is the 2023 withholding tax due from PW-1, if applicable.
What interest rate does Part I use?
Lines 15 and 16 use 12% per year for the amounts and number of days specified on those lines.
What late-filing penalty does the form show?
If PW-1 is filed late without an extension or after the extended due date, line 25a lists a penalty of 5% of net tax due for each month or fraction of a month the return is late, up to 25%. Line 25b also calls for $50 or the applicable late fee.