Skip to main content

Solutions

Products

Recommended products

Questions? We are here to help.
Contact us

Purchase

Questions? We are here to help.

Resources

Screens

Screen ARCPmt - Arkansas Composite Payments and Extension (1120)

Show all hidden content

Payments

Prior year overpayment
Enter any composite return prior year overpayment. The application applies the amount to Form AR1000CR, line 4.
Total, or 1st through 5th payments
Enter the total of all estimates made for the tax year in the
Total, or
 field. The application transfers this amount to Form AR1000CR, line 4. To override the way the application applies the total to all quarters, enter actual amounts of estimated tax for the 1st payment through the 5th payment. Once the amounts are entered in any of the individual payment fields, the application ignores the
Total, or
 field to calculate Form AR1000CR.
The 1st through 4th fields in the
Date Paid
 column default to the respective quarters’ due dates, and the 5th payment date defaults to the 4th quarter date. If the payments weren't made on the estimated due dates, enter the actual dates of payment in the fields provided.
Treat calculated amounts as paid
The application proformas the estimated payments calculated in last year’s application to the
Calculated Amount
 fields. Enter
X
 to have the application transfer amounts from the
Calculated Amount
 fields to the
Amount Paid
 fields.
note
Amounts entered in the
Amount Paid
 fields are not replaced when the
Treat calculated amounts as paid
 field is marked.
Paid with extension
Each time you print the extension, the application:
  • calculates the extension payment amount and enters it in this field
  • 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 field. The application then shows the new amount in black.
note
  • To delete the updated amount and go back to the original calculated amount, right-click the field and select
    Delete overrule
    .
  • To verify the accuracy of the overruled amount, right-click the field and select
    Acknowledge overruled data
    . The application then disables the acknowledge functionality. To restore the original amount later, you will need to enter it manually.
  • If desired, you can set a preference to mark the fields you overruled the calculated amounts and to list all overruled amounts in the
    Diagnostics
     window.

Extension

Calculate extension
Enter 1 or leave this field blank to have the application calculate the extension using federal Form 7004. Enter 2 to calculate Form AR1055-CR.
note
The application also enters the due date in the
Extended due date
 field.
Extended due date
If you have printed an extension, the extended due date automatically shows in this field. Otherwise, enter the date you're using as the
extended due date
 in the filing instructions. If this field is blank, then the return wasn't put on extension.
Balance due on extension (Force)
Enter an amount to have the application calculate the amount of total tax using the composite payments you've entered, complete the
Extended due date
 field, and copy the amount to the
Payments
 section.

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close