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Screen PANPTExt - Philadelphia Net Profits Return Extension (1040)

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Overview

Use this screen to calculate the extension for the Philadelphia Net Profits return.
note
  • No extension coupon is required to be filed when there's no balance due and a federal extension was filed.
  • The extension for Philadelphia's Form NPT can't be filed electronically and doesn't accept electronic funds withdrawal.

Extension Information

Calculate extension
Enter
1
 if there's a valid federal extension. UltraTax CS extends the return using October 15 as the extended due date. Enter
2
 to extend the return until June 15. To print the extension, select
File
, then
Print Extensions
. UltraTax CS also enters the applicable due date in the
Extended due date
 field.
Extended due date
If an extension is printing by selecting
File
, then
Print Extensions
, or a code entered in the
Calculate extension
 field, the extended due date appears in this field automatically. Otherwise, enter the date that's to be used as the extended due date in the filing instructions.
Extension payment actually made; reportable on main return
Each time you print the extension (via the
File
, 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 select
    Delete overrule
    .
  • To confirm the accuracy of the overruled amount, right-click the field and select
    Acknowledge overruled data
    . UltraTax CS then disables the acknowledge functionality from the right-click menu. To restore the original amount later, you'll need to enter it manually.
  • You can set a user preference to mark fields for which you overruled the calculated amounts and to list all overruled amounts in the Diagnostics window.
Balance due on extension (Force)
If an amount is entered in this field, UltraTax CS calculates the amount of total tax using the estimated payments entered, enters a code in the
Calculate extension
 field, and completes the
Extended due date
 field.

Payments

Form NPT overpayment to be applied to
Use this field to enter the amount of prior-year overpayment that was applied to the current year.
Total estimated payments, or / Treat calculated amounts as paid / Individual payments, if unequal or not timely
Enter the total current-year estimates for Form NPT in the
Total estimated payments, or
 field or
Individual payments, if unequal or not timely
 fields. If the payments are unequal or the actual payment dates are different than the due dates, enter the correct information in the
Date
 and
Amount
 fields. When no dates are entered in the
Date
 fields, UltraTax CS defaults to April 15 for the
1st payment
 field and June 15 for the
2nd payment
 field.
Enter the current year estimate payment information in either the
Total estimated payments, or
 field or
Individual payments, if unequal or not timely
 field, but not in both. If there is information entered in the
Total estimated payments, or
 and
Individual payments, if unequal or not timely
 fields, UltraTax CS ignores the
Individual payments, if unequal or not timely
 field amount and uses the information entered in the
Total estimated payments, or
 field.

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