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Form 80-320-23-8-1-000 (Rev

Form 80-320-23-8-1-000 (Rev 2025

Form 80-320-23-8-1-000 (Rev Preview on Page 1

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The document is a Mississippi Individual Income Tax Interest and Penalty Worksheet, used to calculate interest on underpayment of estimated tax, first-time home buyer penalties, and late payment penalties for both resident and non-resident taxpayers. It includes specific instructions for completing the form, detailing how to compute required installments, overpayments or underpayments, and applicable interest rates. The worksheet is designed for taxpayers whose 2023 income tax liability exceeds $200.

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Click ‘Get Form’ to open it in the editor.
Begin by entering your personal information in the designated fields, including your first name, last name, and Social Security Number (SSN). If applicable, fill out your spouse's details as well.
Provide your mailing address, ensuring that all components such as street number, city, state, and zip code are accurately filled.
In the 'Interest on Underpayment of Estimated Tax' section, input your 2023 Mississippi income tax liability on line 1. Follow this by calculating and entering the required installments in subsequent lines.
Complete the 'Interest Calculation' section by entering any overpayments or underpayments from previous columns. Ensure you calculate interest at the specified rate for accurate results.
Finally, review all entries for accuracy before saving or submitting your completed form through our platform.

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Versions	Form popularity	Fillable & printable
2023	4.4 Satisfied (48 Votes)
2022	4.9 Satisfied (56 Votes)
2021	4.8 Satisfied (69 Votes)
2020	4.4 Satisfied (289 Votes)

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Does Mississippi have a state tax form?

E-file your Mississippi personal income tax return online with 1040.com. These 2023 forms and more are available: Mississippi Form 80-105 Resident Return. Mississippi Form 80-205 Nonresident and Part-Year Resident Return.

How do I get out of underpayment penalty?

Conditions for Waiving an Underpayment Penalty Your tax return shows you owe less than $1,000. You paid 90% or more of the tax that you owed for the taxable year or 100% of the tax that you owed for the year prior, whichever amount is less. 1.

Why am I getting charged an underpayment penalty?

An underpayment penalty is a charge the IRS imposes on taxpayers who did not pay all of their estimated income taxes for the year or paid their taxes late. Youll face an underpayment penalty if you: Didnt pay at least 90% of the tax on your current-year return or 100% of the tax shown on the prior years return.

What is the form for Mississippi resident individual income tax return?

Form 80-105 is the Mississippi Resident Individual Income Tax Return used to report your income earned and taxes owed to the state of Mississippi for the 2024 tax year.

What is a Mississippi tax form 89-350 for?

Each employee must provide you with a completed and signed Form 89-350, Mississippi Employees Withholding Exemption Certificate. You should use these forms along with the tax tables to determine how much income tax should be withheld from each employees paycheck.

How to calculate penalty and interest on Mississippi sales tax?

Mississippi Sales Tax Due Dates and Penalties If your return or payment is late, the state will assess a penalty of 10% of the total tax due, or they will charge interest on the payment at the rate of 1% per month, or both.

How to file income tax resident individual form?

Log onto the i-Tax profile with your PIN and password 2. Go to the Returns menu, select File Return, choose Tax Obligation as Income Tax - Resident Individual then click Next. 3. Download the Excel/ODS Template using the link provided.

What is the 1040 form for the individual income tax return?

The IRS 1040 form is one of the official documents that U.S. taxpayers use to file their annual income tax return. The 1040 form is divided into sections where you report your income and deductions to determine the amount of tax you owe or the refund you can expect to receive.

Form 80-320-23-8-1-000 (Rev 2025

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Got questions?

Does Mississippi have a state tax form?

How do I get out of underpayment penalty?

Why am I getting charged an underpayment penalty?

What is the form for Mississippi resident individual income tax return?

What is a Mississippi tax form 89-350 for?

Complete this form in 5 minutes or less

People also ask

How to calculate penalty and interest on Mississippi sales tax?

How to file income tax resident individual form?

What is the 1040 form for the individual income tax return?

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Form 80-320-23-8-1-000 (Rev 2025

Here's how it works

How to Use or Fill Out Form 80-320-23-8-1-000 (Rev) with Our Platform

See more Form 80-320-23-8-1-000 (Rev versions

Complete this form in 5 minutes or less

Got questions?

Does Mississippi have a state tax form?

How do I get out of underpayment penalty?

Why am I getting charged an underpayment penalty?

What is the form for Mississippi resident individual income tax return?

What is a Mississippi tax form 89-350 for?

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People also ask

How to calculate penalty and interest on Mississippi sales tax?

How to file income tax resident individual form?

What is the 1040 form for the individual income tax return?

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