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Screen MAPmt - Massachusetts Payments and Extension (1120)

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Payments

Prior year overpayment
Enter any prior-year overpayment in this box. The application transfers the amount entered to Page 2 of Form 355 or Form 355S or Page 1 of Form 355SC or Form 355U and treats it as a first-quarter payment to calculate Form M-2220. Do
not
 include this amount again in
1
st payment
.
Total, or / 1st - 5th payment
Enter the total of all estimates made for the tax year in
Total, or
. The application transfers this amount to the return and applies it equally to all quarters to calculate Form M-2220. To override the way the application applies the total to all quarters, enter actual amounts of estimated tax in the
1
st payment
through
5
th payment
 boxes. Once amounts are entered in any of the individual payment boxes, the application ignores the amount in
Total, or
to calculate the return and Form M-2220.
The first four boxes in the
Date Paid
 column default to the respective quarter due dates and the fifth payment date defaults to the fourth-quarter date. If the payments weren't made on the estimate due dates, enter the actual dates of payments in the boxes provided.
note
  • In the combined return, when subject to an affiliated group election, enter payments made, by the principal reporting corporation, explicitly for the combined report. These payments will be used to calculate Schedule CG, Part 3. If any, enter additional payments made separately by individual members in the member’s return in the MAPmt screen. These payments will be used to calculate Schedule CG, Part 4.
  • In the combined return, when not subject to an affiliated group election, enter only additional payments made separately by individual members. These payments will be used to calculate Schedule CG, Part 4. Enter payments made, by the principal reporting corporation, explicitly for the combined report in the MAUPmt screen in the Payments by the Principal Reporting Corporation section. These payments will be used to calculate Schedule CG, Part 3.
Treat calculated amounts as paid
The application proformas the estimated payments calculated in the prior year application to the
Calculated Amount
 boxes. Enter
X
 to transfer amounts from the
Calculated Amount
 boxes to the corresponding
Amount Paid
 boxes.
note
Amounts entered in the
Amount Paid
 boxes won't be replaced when
Treat calculated amounts as paid
 is marked.
Paid with extension
Each time you print the extension (via File, then Print Extensions), the application does the following:
  • calculates the extension payment amount and enters the amount in this box, and
  • prints this amount on Form 355, 355S, 355SC or Schedule CG, not on Form 355-7004.
Alternatively, you can overrule the calculated amount by entering the amount actually paid with the current-year extension in this box. The application then displays the new amount in black.
note
  • To delete the overruled amount and restore the original calculated amount, right-click the box and select Delete overrule.
  • To verify the accuracy of the overruled amount, right-click the box and select Acknowledge overruled data. The application then turns off the acknowledge functionality from the right-click menu. To restore the original amount later, you'll need to manually enter the amount.
  • You can set a user preference to mark boxes for which you overruled the calculated amounts and to list all overruled amounts in the Diagnostics window.

Applied Payments

Pass-through entity withholding applied
For a member of a combined unitary group with a different tax year ending than the combined group’s tax year ending, enter the pass-through withholding applied to the member’s separate non-income measure excise tax return.
Payments allocated to combined return
For members of a combined unitary group with a different tax year ending than the combined group’s tax year ending, enter the portion of the payments made by the member that will be allocated to the combined report. These amounts reduce the payments made by the member entered in the Payments section and are reported on Schedule CG, Part 4, lines 2 through 7.

Extension

Extended due date
If you've printed an extension by selecting File, then Print Extensions, or have entered an amount in
Balance due on extension (Force)
, the extended due date automatically appears in this box. Otherwise, enter the date to use as the extended due date to calculate late-filing penalties and to include in the filing instructions. If this box is blank, the application assumes that the return wasn't extended.
note
The extension period for combined report filers is seven months instead of six months. See Directive 11-5: Seven-Month Extension for Combined Reporting Filers for additional information.
Balance due on extension (Force)
If an amount is entered in this box , the application calculates the amount of total tax using the estimated payments and withholding amount entered, completes
Extended due date
, and places the amount entered in this box in the Payments section.

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