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Screen ARPen - Arkansas Penalties and Interest (1040)

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Overview

Use this screen to calculate Form AR2210, Penalty For Underpayment of Estimated Tax.

General Information

Use this section to enter information to calculate Form AR2210 penalties and late-filing interest and penalties.
Date return filed
If the date entered in this field is later than the return due date, UltraTax CS automatically calculates the penalty for failure to pay, the penalty for failure to file, and the interest on the underpayment. If this field is blank, the field defaults to the due date (original or extended) of the return.
Suppress penalties on return
To suppress specific penalties, mark the appropriate field.

Underpayment of Estimated Tax

Use this section to enter information to calculate Form AR2210 exceptions to penalties.
2024
 tax
Enter last year's Arkansas income tax liability in this field. If no tax return was filed in the prior year, leave this field blank. If the client's tax liability for the prior year was zero, enter
0
 (zero).
Prior year resident of Arkansas
Mark this checkbox as an additional requirement to qualify for Arkansas Exception Code 3.
Arkansas withholding as actually withheld
If withholding is to be reported when actually withheld, rather than in equal installments, enter the amount actually withheld for each quarter.
Number of estimated tax payments required, if less than 4
If there were unexpected changes in income, deductions, or exemptions during the year that required payments to begin after April 15, indicate the number of payments required. Enter
1
 for only the last quarter,
2
 for the last two quarters, or
3
 for the last three quarters.
Exception to Form AR2210 penalty
If one of the exceptions to the Form AR2210 penalty applies, mark the appropriate field. The Form AR2210 penalty is suppressed and the exception code number prints on Form AR1000F / AR1000NR, line 52A.
note
UltraTax CS automatically calculates other exceptions; therefore, these are not listed.

Annualized Income Installment Method

Enter information in this section to calculate underpayment of estimated taxes by the annualized method on Form AR2210A. UltraTax CS calculates Form AR2210A if the
Annualize income on Form 2210A
 field is marked or data is entered in either the
Taxpayer adjusted gross income
 or
Spouse adjusted gross income
 fields.
Taxpayer adjusted gross income
Enter the amount of taxpayer adjusted gross income in each designated period as you want the amount to appear on Form AR2210A.
Spouse adjusted gross income
Enter the amount of spouse adjusted gross income in each designated period as you want the amount to appear on Form AR2210A. This field should be completed if the return is calculated using filing status
4
.
Taxpayer itemized deductions
Enter the amount of taxpayer itemized deductions applicable to each period on Form AR2210A. If the fields are blank, UltraTax CS defaults itemized deductions for each period to equal amounts as claimed on actual return.
Spouse itemized deductions
Enter the amount of spouse itemized deductions applicable to each period on Form AR2210A. If the fields are blank, UltraTax CS defaults itemized deductions for each period to equal amounts as claimed on actual return. This field should be completed if return is calculated using filing status
4
.
Other amounts due from Form AR1000
Enter amounts due from the Lump Sum Distribution Averaging Schedule, IRA, qualified plan withdrawal, and overpayment penalties applicable to each period indicated on Form AR2210A. If you do not enter any data, UltraTax CS defaults to enter equal amounts for each period in the appropriate fields.
Allowed credits from Form AR1000
Enter the non-refundable credits claimed on Form AR1000F / AR1000NR as they apply to each period indicated on Form AR2210A. UltraTax CS defaults to calculate equal amounts of credits to each period if the amount fields are blank.

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