Screen MECPen - Maine Composite Penalties and Interest (1120)

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General Information

Date return filed, if different from original due date

If a date is entered in this field that is later than the return due date, the penalty for failure to pay, the penalty for failure to file, and the interest on the underpayment are automatically calculated. If this field is blank, the original due date of the return is used.

note

Use this field to customize the date due in the filing instructions or filing instruction inserts. Enter the date you want to appear in the filing instructions or filing instruction inserts, and then insert the variable [date filed f/t]
in place of the variable [due date ASAP f/t]
in the filing instructions or filing instruction inserts. If this field is blank, the date defaults to the due date of the return (original or extended). For more information, go to the Client documents overview.

Prior year less than 12 months

Enter X
if the preceding tax year was shorter than 12 months. This information is used to calculate Form 2210ME. If this field is blank, the state determination of short year defaults to the federal.

note

Form 2210ME penalty will calculate for a short-year client.

Suppress penalties on return: Underpayment of estimated tax

Enter X
to suppress the printing of Form 2210ME and the calculation of the Form 2210ME penalty on the return. Form 2210ME is printed if this field is blank and the underpayment penalty is due.

note

Form 2210ME prints whenever a penalty exists. If the underpayment of estimated tax suppression checkbox is marked, Form 2210ME won't print. To suppress the penalty, but print the form, enter X
in the Underpayment of estimated tax
field, select Setup
, 1120 Corporation
, the Maine
tab, then Tax Return
. Highlight ME Composite Form 2210ME
and select Always if data
to force the form to always print when it contains relevant data.

Suppress penalties on return: Late interest

Enter X
to suppress the late payment interest on the return. The ME Composite Late Filing Interest and Penalty Worksheet prints if this field is blank and late interest is due. The ME Composite Late Filing Interest and Penalty Worksheet will also print if the Failure to file
or Failure to pay
fields are blank and a failure to file or failure to pay penalty exists.

Suppress penalties on return: Failure to file

Enter X
to suppress the failure to file penalty on the return. The ME Composite Late Filing Interest and Penalty Worksheet prints if this field is blank and the failure to file penalty is due. The ME Composite Late Filing Interest and Penalty Worksheet will also print if the Late interest
or Failure to pay
fields are blank and late payment interest or a failure to pay penalty exists.

Suppress penalties on return: Failure to pay

Enter X
to suppress the failure to pay penalty on the return. The ME Composite Late Filing Interest and Penalty Worksheet prints if this field is blank and the failure to pay penalty is due. The ME Composite Late Filing Interest and Penalty Worksheet will also print if the Late interest
or Failure to file
fields are blank and late payment interest or a failure to file penalty exists.

note

The ME Composite Late Filing Interest and Penalty Worksheet prints when penalties or interest exist. If the Late interest
, Failure to file
, and Failure to pay
checkboxes are all marked, the ME Composite Late Filing Interest and Penalty Worksheet won't print. To suppress the late interest, failure to file penalty, and failure to pay penalties on the return, but print the worksheet, mark the
Late interest
, Failure to file
, and Failure to pay
checkboxes, select Setup
, 1120 Corporation
, the Maine
tab, then Tax Return
. Highlight ME Composite Late Worksheet
and select Always if data
to force the worksheet to always print when it contains relevant data.

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Screen MECPen - Maine Composite Penalties and Interest (1120)

General Information