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Screen AZCExt - Arizona Composite Payments, Extension, Penalty and Interest (1065)

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Payments

Prior year overpayment
Enter any prior-year overpayment. UltraTax CS transfers the amount you enter to Form 140NR, Page 2, line 64 and Form 204, line 3.
Estimated tax payments
Enter any estimated tax payments. UltraTax CS transfers the amount you enter to Form 140NR, Page 2, line 64 and Form 204, line 3.
Amount paid with extension
Each time you print the extension (from the File menu), UltraTax CS:
  • calculates the extension payment amount and enters it in this field,
  • prints this amount on the main return, not on the extension, and
  • issues an FYI diagnostic message indicating that you need to verify the amount paid with the extension before filing the return.
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
  • When you overrule the calculated amount, UltraTax CS no longer issues the FYI diagnostic message indicating that you need to verify the amount paid with the extension before filing the return.
  • 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 calculated amounts and to list all overruled amounts in the Diagnostics window.

Overpayment

Application of current year overpayment
The code options available in this field instruct UltraTax CS how to apply any current year overpayment for Form 140NR-Composite. To enter the application of current year overpayment one time for all new clients, go to Setup and select
1065 Partnership
. On the Arizona tab, select
New Client Options
.

Extension

Calculate extension
To calculate Form 204 - Application for Filing Extension, enter code
1
,
2
, or
3
. To print the extension, select File then Print Extensions. If the extension is printed and no code is entered here, UltraTax CS defaults to option
1
. If you choose option
3
 and there is an amount due, Form 204 prints showing the amount due with the A federal extension will be used to file this tax return box marked.
note
UltraTax CS also enters the applicable due date in the
Extended due date
 field.
Extended due date
If you have printed an extension by choosing File > Print Extensions, or by entering
1
,
2
, or
3
 in the
Calculate extension
field, the extended due date automatically appears in this field. When this field is completed and the
Date return filed
field is blank, UltraTax CS uses the date in this field to calculate penalties and interest. The extended due date is also reflected in the filing instructions.
Estimated tax liability (Force)
If you enter an amount in this field, UltraTax CS enters this amount on Form 204 as Tax liability, enters
1
in the
Calculate extension
 field, and completes the
Extended due date
 field. You may estimate this amount.
Balance due on extension (Force)
If you enter an amount in this field, UltraTax CS displays this amount on the extension as balance due, completes the
Extended due date
 field, and displays the amount in the
Amount paid with extension
field.

Penalties and Interest

Date return filed
If the date you enter is later than the original due date of the return or the extended due date, the penalties and interest calculate automatically, if applicable. If blank, this field defaults to the calculated due date of the return.
Suppress penalties on return: Late interest
Enter
X
 to suppress the late payment interest on the return. UltraTax CS prints the AZ Composite Late Filing Interest and Penalty Worksheets if this field is blank and late interest is due. The AZ Composite Late Filing Interest and Penalty Worksheets also prints if the
Failure to file
,
Failure to pay
, or
Extension underpayment penalty
 fields are blank and a failure to file, failure to pay, or extension underpayment penalty exists.
Suppress penalties on return: Failure to file
Enter
X
 to suppress the failure to file penalty on the return. UltraTax CS prints the AZ Composite Late Filing Interest and Penalty Worksheets if this field is blank and the failure to file penalty is due. The AZ Composite Late Filing Interest and Penalty Worksheets also prints if the
Late interest
,
Failure to pay
, or
Extension underpayment penalty
 fields are blank and late payment interest, a failure to pay or extension underpayment penalty exists.
Suppress penalties on return: Failure to pay
Enter
X
 to suppress the failure to pay penalty on the return. UltraTax CS prints the AZ Composite Late Filing Interest and Penalty Worksheets if this field is blank and the failure to pay penalty is due. The AZ Composite Late Filing Interest and Penalty Worksheets also prints if the
Late interest
,
Failure to file,
or
Extension underpayment penalty
 fields are blank and late payment interest, a failure to file or extension underpayment penalty exists.
Suppress penalties on return: Extension underpayment penalty
Enter
X
 to suppress the extension underpayment penalty on the return. UltraTax CS prints the AZ Composite Late Filing Interest and Penalty Worksheets if this field is blank and the extension underpayment penalty is due. The AZ Composite Late Filing Interest and Penalty Worksheets also prints if the
Late interest
,
Failure to file
, or
Failure to pay
 fields are blank and late payment interest, a failure to file, or failure to pay penalty exists.
note
UltraTax CS prints the AZ Composite Late Filing Interest and Penalty Worksheets when penalties or interest exist. If the
Late interest
,
Failure to file
,
Failure to pay
, and
Extension underpayment penalty
fields are all marked, the AZ Composite Late Filing Interest and Penalty Worksheets do not print.

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