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Screen RIWEst - Rhode Island Withholding Estimates (1065)

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Estimates

Form RI 1096PT-ES - declaration for next year
Enter code
1
,
2
,
3
,
4
, or
5
 to select a method to determine the amount of next year’s estimated tax. If this field is blank, the application does
not
 generate estimate vouchers or estimate filing instruction information. To enter the Form RI 1096PT-ES declaration one time for all new clients, select
Setup
,
1065 Partnership
 then
Rhode Island
 tab and select the
New Client Options
 button. The codes for the
Form RI 1096PT-ES - declaration for next year
 field are listed in the fieldview and in the following table.
Code
Result
1
Use the current year liability, if less than $250, use zero.
note
If the current year’s tax is less than the minimum filing requirements, the vouchers do not print.
2
Use the current year liability adjusted by amount below. If this option is selected, also enter an adjustment to the current year tax liability in the
Amount for code #2
 field. If the adjustment represents a decrease, enter a negative amount.
3
Use current year liability even if less than $250. This option uses the current year income tax liability even if the total liability falls below the minimum amount required to make estimated payments.
4
Prints coupons with the amount fields blank.
5
Use amounts entered below.
Amts for Code 5
If code
5
 is entered in the
Form RI 1096PT-ES - declaration for next year
 field, enter the desired quarterly payments. The application adjusts these amounts by any overpayment applied, if applicable, and prints these amounts on the vouchers.
Estimates Paid
Use these fields to specify the amounts already paid for each estimate. These amounts are subtracted from the calculated quarterly gross estimated tax liability to determine the net voucher amounts.
Number of vouchers desired next year
The number of estimate vouchers defaults to
4
. Enter a code to specify fewer than four vouchers. The overpayment and amounts already paid toward next year’s estimates are applied to each voucher based on the overpayment code and the quarter in which the amounts were paid. The options for the number of vouchers are listed in the fieldview and in the following table.
Code
Result
4
Four vouchers are generated. This is the default option.
3
The last three vouchers are generated. Any unpaid balance from the first estimate is included in the second estimate voucher.
2
The last two vouchers are generated. Any unpaid balance from the first or second estimate is included in the third estimate voucher.
1
100 percent of the gross estimated tax liability is allocated to the fourth voucher.
A
100 percent of the gross estimated tax liability is allocated to the first voucher.
B
100 percent of the gross estimated tax liability is allocated to the second voucher.
C
100 percent of the gross estimated tax liability is allocated to the third voucher.
Amount to round up each estimate
Enter rounding specifications for the estimated payments in this field. The estimated payments can be rounded up to the nearest factor indicated. For example, if the estimates should be rounded up to the nearest $10, enter
10
. If this field is blank, the application automatically rounds each estimated payment up to the next dollar. To enter an amount to round up each estimate one time for all new clients, select
Setup
,
1065 Partnership
 then
Rhode Island
 tab and select the
New Client Options
 button.

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