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Screen HIPmt - Hawaii Payments and Extension (1120)

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Payments

Prior year overpayment
Enter any prior-year overpayment that has been credited to the current year. The application treats this amount as a first-quarter payment for purposes of calculating interest and penalties on Form N-220. Do not 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 purposes of calculating interest and penalties on Form N-220. To override the way the total payments are applied to all quarters, enter actual amounts 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 Page 1 of the return and interest and penalties on Form N-220.
The first four fields in the
Date Paid
 column default to the respective quarters’ due dates, and the fifth 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 provided.
Treat calculated amounts as paid
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.
note
Amounts entered in the
Amount Paid
 column are not overwritten when
Treat calculated amounts as paid
 is marked with
X
.
Paid with extension
Each time you print the extension (via the File then Print Extensions), the application:
  • calculates the extension payment, enters it in this field, and
  • prints this amount on Form N-30, line 16c or Form N-35, line 23c, not on Form N-301
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 displays in black.
note
  • To delete the overruled amount and restore the original calculated amount, right-click the field and choose 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 desired, 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

Extended due date
If you have printed an extension by choosing File then 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.
Balance due on extension (Force)
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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