Kentucky K-1

The Kentucky K-1 Form, titled “Amended Employer’s Return of Income Tax Withheld,” is a tax form used by employers in Kentucky to report income tax withheld from employees during a given period. The form is filed with the Kentucky Department of Revenue and is required for businesses that withhold income tax from employees’ wages. The K-1 form is typically filed if corrections are needed to a previously submitted return, which is why it is called “amended.” Employers use this form to report any discrepancies in previously filed tax returns, adjustments, penalties, or interest owed, ensuring that the tax records are accurate and up-to-date.

How to Complete the Kentucky K-1 Form

To file the Kentucky K-1 Form, follow these instructions carefully:

1. Fill in the Period Information
   • Period Beginning: Enter the start date of the period you are reporting.
   • Period Ending: Enter the end date of the period.
   • Return Due: This is the date by which the return should be filed.
   • Account No.: Provide your employer’s tax account number.
2. Correcting Amounts: A vs. B
   • The form is split into two columns:
     • Column A (As Originally Reported or Adjusted): This is the amount from the original tax return you are amending.
     • Column B (Correct Amount): Enter the corrected amounts here. If the original amount was wrong, this column will reflect the accurate figure.

How to Complete the Form Line by Line

Now let’s go through the form’s line-by-line instructions.

1. Total Number of Employees This Period
   • In this line, report the total number of employees for the period being reported.
2. Total Wages Paid This Period
   • Column A: Report the total wages paid to employees during the period in the original return.
   • Column B: If there were any changes to the total wages, enter the corrected amount.
3. Kentucky Income Tax Withheld This Period
   • Column A: Enter the amount of Kentucky income tax withheld from employees’ wages in the original return.
   • Column B: If the withholding amount was incorrect, enter the corrected amount here.
4. Previous Period Adjustments or Credits
   • If any adjustments or credits from previous periods are being applied, report the amount in this line.
5. Net Tax Due
   • This is the amount of Kentucky income tax due after considering all adjustments, credits, and withholdings.
6. Penalty (See Instructions)
   • If there are any penalties for underreporting or late submission, report them here. Refer to the form’s instructions for how to calculate the penalty.
7. Interest (See Instructions)
   • If any interest is owed due to late payment or underreporting, enter the interest amount in this line. Again, consult the instructions for how to calculate interest.
8. Total Penalty and Interest (Line 5 Plus Line 6)
   • Add the penalty and interest amounts from lines 6 and 7, and enter the total here.
9. Total Amount Due (Line 4 Plus Line 7)
   • Calculate the total amount due, including any penalties and interest, by adding the amount from line 4 (net tax due) and line 7 (total penalty and interest).

Declaration and Signature

At the end of the form, you must sign and date it, declaring under penalty of perjury that the return is correct to the best of your knowledge.

• Signature: The person responsible for filing the return must sign here.
• Title: Indicate the title of the person signing the return.
• Date: Enter the date the form is signed.

Where to Mail the Form

Once the form is completed, the total amount due should be remitted to the Kentucky State Treasurer. Make the check payable to the “Kentucky State Treasurer” and mail it to the following address:

Department of Revenue
Frankfort, Kentucky 40619

Refund and Credit Forward

If you are eligible for a refund, enter the amount requested in the “Refund Requested” section. If you would like to apply a credit forward to a future period, fill out the “Credit Forward to” section.