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Screen MNPPmt - Municipal Payments, Extension, Penalties and Interest (1065)

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Extension

Calculate extension
If you leave this box blank and run the Extension utility, UltraTax CS automatically selects the extension form to be used. If the federal return is extended and there is no balance due on the city return, UltraTax CS won't print the Municipal Extension Worksheet because Ohio accepts the federal Form 7004.
If the federal return is extended and there is a balance due on the city return, UltraTax CS will print the Municipal Extension Worksheet. If the federal return isn't extended, the application will print the Municipal Extension Worksheet.
Enter
1
to force the application to use federal Form 7004. UltraTax CS won't print the Municipal Extension Worksheet. Enter
2
to force UltraTax CS to print the Municipal Extension Worksheet. To print the extension, select File, then Print Extensions.
note
UltraTax CS also enters the due date in
Extended due date
.
Extended due date
If an extension is printed by selecting File, then Print Extensions, or if
1
 or
2
 is entered in
Calculate extension
, the extended due date automatically appears in this box. Otherwise, enter the date to be used as the extended due date in the filing instructions.

Penalties and Interest

Date return filed
If the return is being filed late, enter the date of filing. If this box is blank, it defaults to the due date of the return, including extensions. UltraTax CS compares this box with
Extended due date
 in order to calculate interest and penalties.
Prior year tax
Enter the prior year tax, including 0 (zero), for the Municipal net profit tax return. This amount is used to calculate the underpayment penalty. If this box is blank, UltraTax CS assumes no prior return was filed.
Specific payment dates if unequal or not timely: 1st - 5th payment
The first four date boxes default to the respective quarters’ due dates and the fifth payment date defaults to the fourth quarter date. If the client didn't make payments on the estimate due dates, enter the actual dates of payment in the boxes provided.
Underpayment of estimated tax
Enter
X
 to suppress the printing of the Municipal Underpayment of Estimated Tax Worksheet and the calculation of underpayment of estimated tax penalty on the return. UltraTax CS prints the Municipal Underpayment of Estimated Tax Worksheet and includes the underpayment penalty on Page 1 of the return if this box is blank and the underpayment penalty is due.
note
To suppress the penalty, but print the form, enter
X
 in
Underpayment of estimated tax
, select Setup, then 1065 Partnership. In the Ohio Cities tab, select Tax Return. Select Municipal 2220 Penalty Wrk and select the Always if data option to force UltraTax CS to always print the form when it contains relevant data.
Late interest
Enter
X
 to suppress the late payment interest on the return. UltraTax CS prints the Municipal Late Filing Interest and Penalty Worksheet if this box is blank and late interest is due. The Municipal Late Filing Interest and Penalty Worksheet also prints if the
Failure to file
 or
Failure to pay
 boxes are blank and a failure to file or failure to pay penalty exists.
Failure to file
Enter
X
 to suppress the failure to file penalty on the return. UltraTax CS prints the Municipal Late Filing Interest and Penalty Worksheet if this box is blank and the failure to file penalty is due. The Municipal Late Filing Interest and Penalty Worksheet also prints if the
Late interest
 or
Failure to pay
 boxes are blank and late payment interest or a failure to pay penalty exists.
Failure to pay
Enter
X
 to suppress the failure to pay penalty on the return. UltraTax CS prints the Municipal Late Filing Interest and Penalty Worksheet if this box is blank and the failure to pay penalty is due. The Municipal Late Filing Interest and Penalty Worksheet also prints 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 Municipal Late Filing Interest and Penalty Worksheet when penalties or interest exists. If the Late interest, Failure to file, and Failure to pay checkboxes are all marked, the Municipal Late Filing Interest and Penalty Worksheet doesn't print.

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