Skip to main content

Legal

Tax & Accounting

Trade & Supply

Risk & Fraud

News & Media

Books

Developers

Screens

Screen AKPmt - Alaska Payments and Extension (1120)

Show all hidden content

Payments

Enter any prior-year overpayment that was credited to the current year. This amount is used as a first-quarter payment for purposes of calculating interest and penalties on Form 6220. Do not 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. The application transfers this amount to Form 6000 and applies it equally to all quarters to calculate interest and penalties on Form 6220.
The application proformas the estimated payments calculated in the prior year to the
Calculated Amount
 fields. Enter X to transfer the amounts from the
Calculated Amount
 fields to the
Amount Paid
 fields.
Each time you print the extension, the application calculates the extension payment amount and enters it in this field and prints this amount on the corresponding forms. You can overrule the calculated amount by entering the amount actually paid with the current-year extension in this field.

Extension

If you print an extension or enter an amount in the
Balance due on extension (Force)
 field, an extended due date automatically appears in this field. Otherwise, enter the date to be used as the extended due date to calculate late-filing penalties and to use in the filing instructions.
If an amount is entered here, the application calculates the amount of total tax using the estimated payments entered, completes the
Extended due date
 field, and places the appropriate amount in the
Paid with extension: Amount Paid
 field in the
Payments
 section.
Chat now

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close