Amount of underpayment; period of underpayment
For purposes of subsection (a)—
(1) Amount The amount of the underpayment shall be the excess of— (A) the required installment, over (B) the amount (if any) of the installment paid on or before the due date for the installment.
(2) Period of underpayment The period of the underpayment shall run from the due date for the installment to whichever of the following dates is the earlier— (A) the 15th day of the 4th month following the close of the taxable year, or (B) with respect to any portion of the underpayment, the date on which such portion is paid.
(3) Order of crediting payments For purposes of paragraph (2)(B), a payment of estimated tax shall be credited against unpaid required installments in the order in which such installments are required to be paid.
(1)Amount#
The amount of the underpayment shall be the excess of—
(A) the required installment, over
(B) the amount (if any) of the installment paid on or before the due date for the installment.
(1)(A)#
the required installment, over
(1)(B)#
the amount (if any) of the installment paid on or before the due date for the installment.
(2)Period of underpayment#
The period of the underpayment shall run from the due date for the installment to whichever of the following dates is the earlier—
(A) the 15th day of the 4th month following the close of the taxable year, or
(B) with respect to any portion of the underpayment, the date on which such portion is paid.
(2)(A)#
the 15th day of the 4th month following the close of the taxable year, or
(2)(B)#
with respect to any portion of the underpayment, the date on which such portion is paid.
(3)Order of crediting payments#
For purposes of paragraph (2)(B), a payment of estimated tax shall be credited against unpaid required installments in the order in which such installments are required to be paid.