DRS: 12-722(c)-1, Amended installments - Repealed Effective 4/6/00

DRS has reproduced this regulation. This is an unofficial copy. Official copies of regulations ONLY are available from the Commission on Official Legal Publications. 111 Phoenix Avenue. Enfield, CT 06082. colp@jud.state.ct.us Copies of DRS forms and publications are available at http://www.ct.gov/drs

Repealed Effective 4/6/00

Connecticut Regulation, Reg. Sec. 12-722(c)-1. Amended installments.

(a) In making an installment of estimated tax, the taxpayer shall take into account the then existing facts and circumstances, as well as those reasonably to be expected, relating to the computation of tax due for the taxable year. Amended installments of estimated tax shall be made in any case in which the taxpayer estimates that the tax due for the taxable year shall differ from the tax due for the taxable year reflected in such taxpayer’s previous installment(s) of estimated tax. If the estimated tax has increased, the amount that would otherwise have been due for the taxable year, had such increased estimated tax been the amount originally declared, shall be paid at the time of making the amendment and the remaining installments shall be ratably increased so that the remaining estimated tax is paid in the number of equal installments that remain as of the time of the amendment. If the estimated tax has decreased, the remaining installments shall be ratably decreased so that the remaining estimated tax is paid in the number of equal installments that remain as of the time of amendment. An amended joint installment of estimated tax may be made by a husband and wife even though separate installments have previously been made. No refund shall be issued because of an amended installment of estimated tax, since consideration shall be given to a refund only after a completed Connecticut income tax return has been filed by a taxpayer for the taxable year covered by such taxpayer’s installments of estimated tax.

(b) While this section pertains to Section 12-722(c) of the general statutes, for purposes of supplementary interpretation, as the phrase is used in Section 12-2 of the general statutes, the adoption of this section is authorized by Section 12-720(b) of the general statutes.

(Effective 11/18/1994)