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Screen ALPmt - Alabama Payments and Extension (1120)

Payments

Enter any prior-year overpayment. This amount transfers to Page 1 of the return. Don't include this amount again in the
1st payment
 field.
Enter the total of all estimates made for the tax year in the
Total, or
 field. This amount transfers this amount to Page 1 and applies it equally to all quarters for purposes of calculating interest and penalties. To override the way the application applies the total to all quarters, enter the actual amount of estimated tax for
1st payment
 through
5th payment
. Once amounts are entered in any of the individual payment fields, the application ignores the value in the
Total, or
 field for purposes of calculating interest and penalties.
The estimated payments calculated in the prior year application proforma to the
Calculated Amount
 fields. Enter X to transfer amounts from the
Calculated Amount
 column to the
Amount Paid
 column.
Each time you print the extension, the application:
  • calculates the extension payment amount and enters it in this field
  • prints the extension payment amount on Form 20S or Form 20C not on Form BIT-V. Alternatively, you can overrule the calculated amount by entering the amount actually paid with the current-year extension in this field. The new amount is then shown in black.
Alternatively, you can overrule the calculated amount by entering the amount actually paid with the current-year extension in this field. The new amount then shows in black.

Extension

If you have printed an extension by choosing File > Print Extensions, the extended due date automatically appears in this field. Otherwise, enter the date to be used as the extended due date in the calculation of late filing penalties and in the filing instructions. If this field is blank, it is assumed that the return was not put on extension.
If an amount is entered in this field, the application calculates the amount of total tax using the estimated payments entered, completes the
Extended due date
 field, and enters the amount in the Payments section.
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