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Screen NPTPmt - Philadelphia NPT Payments, Extension, Penalties & Interest (1065)

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Payments

Total, or: 1st - 2nd payment
Enter the total current-year estimates for Form NPT in
Total, or
. When you enter this amount, the application applies the amount equally to all estimated tax payments and assumes that the actual payment dates are the same as the payment due dates.
If the payments are unequal or the actual payment dates are different than the due dates, enter the correct information in the
Date
and
Amount
boxes. When no dates are entered in the
Date
boxes, the application defaults to the dates for the
1st payment
and
2nd payment
 boxes.
note
Enter the current-year estimate payment information in either
Total, or
or in the
1st
payment
and
2nd payment
boxes, but not in both. If there is information entered in
Total, or
and in
1st payment
and
2nd payment
boxes, the application ignores the
Total, or
amount and uses the information entered in the
1st payment
and
2nd payment
 boxes.
Treat calculated amounts as amounts paid
If the application was used to prepare last year’s return and estimates were calculated for the current year, the application proformas the amounts into the
Calculated Amount
boxes. If there hasn't been data entry for estimate payments, enter
X
in
Treat calculated amounts as amounts paid
to move the calculated amounts into the
Amount Paid
 boxes.
Paid with extension
Each time you print the extension (via File, then Print Extensions), the application:
  • 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. The application then displays 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. The application then turns off 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

Calculate extension payment
Enter
1
 if there is a valid federal extension. The application extends the return using the federal extended due date as the extended due date. Enter
2
 if you want to extend the return until the fifteenth day of the sixth month following the year end. To print the extension, select File, then Print Extensions.
note
The application also enters the due date in the
Extended due date
box.
Extended due date
If you have printed an extension by selecting File, then Print Extensions, or entered a code in the
Calculate extension
box, the extended due date appears. Otherwise, enter the date that is to be used as the extended due date in the filing instructions
Balance due on extension (Force)
If you enter an amount, the application displays the amount on the Net Profits Extension Coupon and updates the
Paid with extension
box.

Penalties and Interest

Date return filed
If the date entered is later than the return due date, the application calculates the late filing interest and penalty for failure to file on the Form NPT Late Filing Interest and Penalty Worksheet and late interest on the estimate underpayment on the Form NPT Underpayment of Estimate Penalty Worksheet. If you leave this box blank, it defaults to the due date (original or extended) of the return.
Prior year estimated payment tax base
Enter the amount of the estimated payments base for the prior year. The application uses this information with the estimated payment information to determine if there were any late or underpayment penalties in conjunction with the estimates.
Suppress penalties on Philadelphia NPT: Underpayment of estimated tax
Enter
X
to suppress the printing of Form NPT Underpayment of Estimate Penalty Worksheet and the calculation of the underpayment penalty on the return. The application prints the Form NPT Underpayment of Estimate Penalty Worksheet and includes the underpayment penalty on Form NPT 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, 1065 Partnership, Pennsylvania tab, and select Tax Return. Select PHL NPT Penalty Wrk and select
Always if data
 to force the application to always print the form when it contains relevant data.
Suppress penalties on Philadelphia NPT: Late interest
Enter
X
to suppress the late payment interest on the return. The application prints the Form NPT Late Filing Interest and Penalty Worksheet if this box is blank and late interest is due. The Form NPT Late Filing Interest and Penalty Worksheet also prints if
Failure to Pay
 is blank and failure to pay penalty exists.
Suppress penalties on Philadelphia NPT: Failure to pay
Enter
X
to suppress the failure to pay penalty on the return. The application prints the Form NPT Late Filing Interest and Penalty Worksheet if this box is blank and failure to pay penalty is due. The Form NPT Late Filing Interest and Penalty Worksheet also prints if
Late interest
 is blank and late interest exists.
note
The application prints the Form NPT Late Filing Interest and Penalty Worksheet when penalties or interest exist. If the
Late interest
 and
Failure to pay
 boxes are both marked, the Form NPT Late Filing Interest and Penalty Worksheet doesn't print.

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