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Screen CAPPmt - California Payment, Extension, Use Tax, Penalty & Interest (1065)

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Payments

Amount paid with extension
Each time you print the extension (via the File, Print Extensions option), UltraTax CS:
  • calculates the extension payment amount and enters it in this box, 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 box. UltraTax CS then shows the new amount in black.
note
  • To delete the overruled amount and restore the original calculated amount, right-click the box and select
    Delete overrule
    .
  • To confirm the accuracy of the overruled amount, right-click the box and select
    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 boxes for which you overruled the calculated amounts and to list all overruled amounts in the
    Diagnostics
     window.

Extension

Extended due date
If you printed an extension by selecting
File
,
Print Extensions
, the extended due date automatically appears in this box. When this box is completed and
Date return filed
 is blank, UltraTax CS uses the date in this box to calculate penalties and interest. The extended due date also is reflected in the filing instructions.
Balance due on extension (Force)
If you enter an amount here, UltraTax CS enters the amount on Form 3538, completes
Extended due date
, and displays the amount in
Amount paid with extension
.

Penalties and Interest

Date return filed
If the date you enter here is later than the return due date, the interest and penalties for failure to file, for failure to pay, and late-filing interest calculate automatically. If you leave this blank, it defaults to the due date of the return.
UltraTax CS prints interest and penalty amounts on Page 1 with the following identifying codes.
Code
Penalty
FTF
Failure to file
FTP
Failure to pay
INT
Interest due
TOT
Total amount due including penalty and interest
Suppress penalties on return: Late interest
Enter
X
 to suppress the late payment interest on the return. UltraTax CS prints the CA Late Filing Interest and Penalty Worksheets if this box is blank and late interest is due. The CA Late Filing Interest and Penalty Worksheets will also print if the
Failure to file
or
Failure to pay
 boxes are blank and a failure to file or failure to pay 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 CA Late Filing Interest and Penalty Worksheets if this box is blank and the failure to file penalty is due. The CA Late Filing Interest and Penalty Worksheets will also print if the
Late interest
 or
Failure to pay
 boxes are blank and late payment interest or a failure to pay 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 CA Late Filing Interest and Penalty Worksheets if this box is blank and the failure to pay penalty is due. The CA Late Filing Interest and Penalty Worksheets will also print if the
Late interest
 or
Failure to file
 boxes are blank and late payment interest or a failure to file penalty exists.
note
UltraTax CS prints the CA Late Filing Interest and Penalty Worksheets when penalties or interest exist. If the
Late interest
,
Failure to file
, and
Failure to pay
 boxes are all marked, the CA Late Filing Interest and Penalty Worksheets won't print.

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