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Screen DCPmt - District of Columbia Payments, Extension, Pen and Int (1065)

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Payments

Total, or / 1st - 5th payment
Enter the total of all estimates made for the tax year in the
Total, or
 field. UltraTax CS transfers these amounts to Form D-30. To override the way UltraTax CS applies the total to all quarters, enter the actual amounts of estimated taxes in the
1st payment
 through
5th payment
fields.
The first four fields in the
Date
 column default to the respective quarters’ due dates, and the fifth payment date defaults to the fourth-quarter date. If the payments were not made on the estimate due dates, enter the actual dates of payment.
Treat calculated amounts as amounts paid
If the return was completed using last years’ version of UltraTax CS and estimates were calculated for the current year, UltraTax CS proformas the amounts into the
Calculated Amount
fields. If there has not been data entry for estimate payments, enter
X
 in the
Treat calculated amounts as amounts paid
 field to move the calculated amounts into the
Amount Paid
fields.
Paid with extension
Each time you print the extension (via File menu), 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 calculated amounts and to list all overruled amounts in the Diagnostics window.

Extension

Extended due date
If an extension was printed by choosing File, Print Extensions, 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 franchise tax liability (Force)
If you enter an amount here, UltraTax CS enters the amount on Form FR-130 as Total estimated franchise tax liability for the tax period and completes the
Extended due date
field.
Balance due on extension (Force)
When an amount is entered here, UltraTax CS displays the amount on the extension Form FR-130, completes the
Extended due date
 field, and displays the amount in the
Paid with extension
 field.

Penalties and Interest

Date return filed
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 for late payment of return. If blank, UltraTax CS uses the calculated return due date to calculate interest and penalties.
Suppress penalties on return: Underpayment of estimated tax
Enter
X
to suppress the printing of Form D-2220 and the calculation of the Form D-2220 penalty on the return. UltraTax CS prints Form D-2220 and includes the underpayment penalty on Page 2 of the return if this field is blank and the underpayment penalty is due.
note
To suppress the penalty, but print the form, enter
X
 in the
Underpayment of estimated tax
field, choose Setup > 1065 Partnership. In the District of Columbia tab, click the Tax Return button. Highlight Form D-2220 and click the
Always if data
option to force UltraTax CS to always print the form when it contains relevant data.
Suppress penalties on return: Late interest
Enter
X
 to suppress the late payment interest on the return. UltraTax CS prints the DC Late Filing Interest and Penalty Worksheet if this field is blank and late interest is due. The DC Late Filing Interest and Penalty Worksheet also prints if the
Failure to pay
 field is blank and 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 DC Late Filing Interest and Penalty Worksheet if this field is blank and the failure to pay penalty is due. The DC Late Filing Interest and Penalty Worksheet also prints if the
Late interest
 field is blank and late payment interest exists.
note
UltraTax CS prints the DC Late Filing Interest and Penalty Worksheet when penalties or interest exist. If the
Late interest
and
Failure to pay
 fields are both marked, the DC Late Filing Interest and Penalty Worksheet does not print.

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