I paid estimated quarterly taxes that totaled more then actual tax due, giving me a refund. Form 502UP should only be completed if taxes due are more then $500 after taxes withheld or paid through quarterly tax estimates are applied.
1. I had no taxes due but the form was completed.
2. In addition to 1 above, your calculations are being done incorrectly, causing money to be substracted from my refund.
Instruction 11 says to divide total income by 4 quarters which should give the same 25% amount to each quarter. Your calculation shows 25% total, 50% total,75% total, then 100% then based the amount of estimated taxes that should have been paid each quarter on those percentages. I paid the same amount each quarter, so 25% of taxes paid to 25% of income should have generated 0 on line 17 of form 502UP.
