Screen NEPen - Nebraska Penalties and Interest (1040)

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Overview

Use this screen to complete Form 2210N, Individual Underpayment of Estimated Tax.

Penalty Date and Suppression

Use this section to enter information regarding penalties and interest on Form 2210N.
Date return filed (If other than due date of return)
If the date entered here is later than the return due date, UltraTax CS automatically calculates the penalty for failure to pay and the interest on the underpayment. If this field is blank, it defaults to the due date (original or extended) of the return.

Underpayment of Estimated Tax

Use this section to enter information for the calculation of Form 1040N exceptions to penalties.
2022
tax after nonrefundable credits
Enter last year’s tax in this field. This amount transfers to Form 2210N.
2022
adjusted gross income
Enter the prior-year adjusted gross income. UltraTax CS uses this to calculate the additional percentage of prior year tax, if applicable, on Form 2210N.

Annualized Income Worksheet

Use this section to enter information for the calculation of Form 2210N penalties.

Waiver of Underpayment Penalty

Use this section to request a waiver of penalty amounts.
Explanation of waiver request (Required for waiver calculation)
Use the statement dialog to enter an explanation if the taxpayer is requesting a waiver of the underpayment penalty. An entry in this field is mandatory when a request to waive an amount is made.
Amount (If not waiving entire underpayment penalty)
UltraTax CS displays the amount entered in this field and the text Waiver on the Nebraska Underpayment of Estimated Tax Worksheet. UltraTax CS subtracts this amount from the penalty calculation and transfers the difference to the tax return. An entry in the
Explanation of waiver request (Required for waiver calculation)
field must be made for this field to be included in the form calculation.

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