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Estimated Payment Penalty Calculation Update–
DOR has revised Line 2 of the 2024 Form 2210N and Form 2220N to include the school district property tax credit allowed on the 2023 tax return to adjust the calculation of penalty for underpayment of 2024 estimated taxes.
LB 34 enacted in the 2024 special session removed the school district property tax credit from the income tax returns effective January 1, 2024, and placed the credit directly on the property tax statements. The adjustment to Line 2 of the 2024 Form 2210N and Form 2220N takes this income tax credit repeal into consideration in the calculation of penalty for underpayment of estimated tax. Taxpayers will not need to file a Request for Abatement of Penalty, Form 21, if you make the adjustment on line 2 of the 2024 Form 2210N or Form 2220N as instructed.
NebFile for Individuals is available to file your Nebraska individual tax return.
2020 Nebraska Individual Income Tax Return, Form 1040N, due date was April 15, 2024.
Any original Nebraska income tax return for tax year 2020 seeking a refund was due April 15, 2024, not May 17, 2024.
Unless you filed a timely Application for Automatic Extension of Time and filed the return prior to the expiration of that time, the April 15, 2024 deadline, also applies to filing an amended return for the 2020 income tax year claiming a refund. This includes filing Form PTCX for 2020 to claim the School District Property Tax credit.
IRS Notice 2023-21 applies only to the period of time to file a federal claim for refund of income taxes and does not impact the deadline to file a claim for refund of income taxes with the State of Nebraska.