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Screen ORSPExt - Multnomah and Portland Business - Payments and Extensions (1040)

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Payments

Use this section to enter estimated payment information for Form SP-
2025
.
Enter total, or / Individual payments, if unequal or not timely
Enter the total current year estimates for Form SP-
2025
 in the
Enter total, or
 field. UltraTax CS applies the amount equally to all estimated tax payments and assumes that the actual payment dates are the same as the payment due dates. If the payments were not equal, or if the actual payment dates were different from the due dates, enter the correct information in the
Date
 and
Amount Paid
 fields. When no dates are entered in the
Date
 fields, UltraTax CS defaults to the due dates of the estimates, and the
5th payment
 date defaults to the due date for the
4th payment
.
Enter the current-year estimate payment information in either the
Enter total,
 or
Individual payments, if unequal or not timely
 field, but not in both. If there is information entered in both fields, UltraTax CS ignores the amount entered in the
Enter total, or
 field and uses the information entered in the
Individual payments, if unequal or not timely
 fields.
Treat calculated amounts as paid
UltraTax CS proformas the estimated payments calculated in the prior year's UltraTax CS to the
Calculated Value
 fields. Enter
X
 to have UltraTax CS transfer the amounts from the
Calculated Value
 fields to the
Amount Paid
 fields.
Amounts entered in the
Amount Paid
 fields are not overwritten when the
Treat calculated amounts as paid
 field is marked.
When the
Date
 field is blank, the first payment date defaults to the first-quarter due date, the second payment to the second-quarter due date, and so on. The fifth payment date defaults to the fourth-quarter due date.

Extension

Use this section to complete Form EXT or Form BZT-V to extend the due date of Form SP-
2025
.
note
Electronic funds withdrawal may be indicated on ORSPBank Screen for electronically filed extensions.
Calculate extension
Mark this field if you want UltraTax CS to calculate Form EXT, Multnomah / Portland Extension Request. To print the extension, choose File and then Print Extensions.
UltraTax CS automatically enters
X
 if you enter an amount in the
Balance due on extension (Force).
 The
Extended due date
 field is also automatically entered.
Extended due date
If an extension is printed by choosing the File and then Print Extensions option, or
X
 is entered in the
Calculate extension
 field, the extended due date automatically appears in this field. Otherwise, the date manually entered in this field is used as the extended due date in the filing instructions and when calculating late filing penalties.
Date extension payment made
If the extension payment was made after the extension was due, enter the date the payment was made for the calculation of late filing interest.
Taxpayer signature
UltraTax CS automatically fills out the Printed Name field with preparer information on Form EXT in the signature section. Mark this box to use the taxpayer's name on the form instead. This field will proforma to next year.
Extension payment actually made; reportable on main return
Each time you print the extension (via the File and then Print Extensions option), UltraTax CS:
  • calculates the extension payment amount and enters it in this field, and
  • prints this amount on the main return, not on the extension.
Alternatively, you can overrule the calculated amount by entering the amount actually paid with the current-year extension in this field. UltraTax CS then displays the new amount in black.
note
  • To delete the overruled amount and restore the original calculated amount, right-click the field and choose Delete overrule.
  • To confirm the accuracy of the overruled amount, right-click the field and choose Acknowledge overruled data. UltraTax CS then disables the acknowledge functionality from the right-click menu. To restore the original amount later, you will need to enter it manually.
  • If desired, you can set a user preference to mark fields for which you overruled the transferred amounts and to list all overruled amounts in the Diagnostics window.
Balance due on extension (Force)
If you enter an amount in these fields, UltraTax CS calculates the amount of total tax using the estimated payments and withholding entered, marks the
Calculate extension
 field, completes the
Extended due date
 field, and transfers the amount that you enter in the
Extension payment actually made; reportable on main return
 field.

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