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Screen FLPmt - Florida Payments and Extension (1120)

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Payments

Prior year overpayment
Enter any prior year overpayment in this field. The application transfers the amount entered to Page 1 of the return and automatically treats it as a first-quarter payment for the purposes of calculating Form F-2220. Don't include this amount again in the 1st payment field.
Total, or / Specific payments if unequal or not timely: 1st - 5th payment
Enter the total of all estimates made for the tax year in the Total, or field. The application transfers this amount to Page 1 and applies it equally to all quarters for the purposes of calculating Form F-2220. To override the way the application applies the total to all quarters, enter actual amounts of estimated tax for the 1st payment through 5th payment fields. Once the amounts are entered in any of the individual payment fields, the application ignores the value in the Total, or field for the purposes of calculating Page 1 of the return and Form F-2220.
The first 4 fields in the Date paid column default to the respective quarters’ due dates and the 5th payment date defaults to the fourth-quarter date. If the payments were not made on the estimate due dates, enter the actual dates of payment in the fields given.
Treat calculated amounts as paid
The application proformas the estimated payments calculated in the previous year application to the Calculated Amount fields. Enter
X
 to 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
 checkbox is marked.
Paid with extension
Each time you print the extension (via
File
, then
Print Extensions
), the application:
  • calculates the extension payment and enters it in this field, and
  • prints this amount on Form F-1120, not on Form F-7004.
Alternatively, you can overrule the calculated amount by entering the amount actually paid with the current-year extension in this field. The application then displays the new amount in black.
note
  • To delete the overruled amount and restore the original calculated amount, right-click the field and select
    Delete overrule
    .
  • To confirm the accuracy of the overruled amount, right-click the field and choose Acknowledge overruled data. The application then disables the acknowledge functionality from the right-click menu. To restore the original amount later, you will need to enter it manually.
  • If you want, you can set a user preference to mark fields for which you overruled the calculated amounts and to list all overruled amounts in the Diagnostics window.

Extension

Extension signature
Enter
1
 or leave this field blank to indicate the officer will be signing the extension. Enter
2
 to indicate the extension will be signed by the preparer. The form and extension filing instructions will be completed according to the form signer.
note
To select this option globally for all clients, select
Setup
,
1120 Corporation
, then
Florida
 tab, select the
Extension
 button, and enter
1
 or
2
 in the Extension signature field or select from the dropdown list.
Reason for extension
Enter the reason for the extension in the statement. If only extending the Florida return, the information entered in this statement will print with Form F-7004. If the federal Form 7004 has been filed, the reason won’t print. To enter a reason for extension that may apply to all Florida clients, select
Setup
,
1120 Corporation
, then
Florida
 tab, and select the
Extension
 button.
Extended due date
If you have printed an extension by selecting
File
, then
Print Extensions
, the extended due date automatically appears. 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's assumed that the return was not put on extension.
Balance due on extension (Force)
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 enters the amount in the Payments section.

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