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Screen SLPmt - St. Louis Payments, Extension, Penalties and Interest (1065)

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Payments

Paid with extension
Each time you print the extension (via the File > Print Extensions), 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 the Extension utility is used, the extended due date automatically appears in this field. Otherwise, enter the date to be used as the extended due date when calculating the late-filing penalties and in the filing instructions.
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 and withholding entered, completes the
Extended due date
 field, and enters the amount entered in the Payments section.

Penalties and Interest

Date return filed
If the date entered in this field is later than the return due date, UltraTax CS automatically calculates the penalty for failure to pay, the penalty for failure to file, and the interest on the underpayment. If this field is blank, it defaults to the due date (original or extended) of the return.
Suppress penalties on return: Late interest
Enter
X
 to suppress the late payment interest on the return. UltraTax CS prints the St. Louis Late Filing Interest and Penalty Worksheet if this field is blank and late interest is due. The St. Louis Late Filing Interest and Penalty Worksheet also prints if the
Failure to file
field is blank and a failure to file 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 St. Louis Late Filing Interest and Penalty Worksheet if this field is blank and the failure to file penalty is due. The St. Louis 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 St. Louis Late Filing Interest and Penalty Worksheet when penalties or interest exist. If the
Late interest
 and
Failure to file
 checkboxes are both marked, the St. Louis Late Filing Interest and Penalty Worksheet does not print.

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