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Screen MJDETPen - Detroit Penalties and Interest (1120)

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General Information

Date return filed, if different from original due date
If the return is being filed late, enter the date of filing. If this box is blank, it defaults to the original due date of the return. The application compares this box with
Extended due date
 in the MJDETPmt screen in order to calculate interest and penalties.
note
Use this box to customize the date due in the filing instructions or filing instruction inserts. In this box, 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 [due date ASAP f/t] in the filing instructions or filing instruction inserts. If the box is blank, the date defaults to the due date of the return (original or extended).
Prior year tax
Enter the prior-year tax in this box. This amount is used to calculate the underpayment penalty.
note
The application calculates the underpayment of estimated tax penalty and interest for a short-year client.
Suppress penalties on return: Underpayment of estimated tax
Enter
X
 to suppress the printing of Detroit Form 5324 and the calculation of the Detroit Underpayment of Estimated Tax Penalty on the return. The application prints the Detroit Underpayment of Estimated Tax Worksheet if this box is blank and the underpayment penalty is due.
note
The application prints Form 5324 whenever a penalty exists. If
Underpayment of estimated tax
 is marked, Form 5324 won't print. To suppress the penalty, but print the worksheet, enter
X
 in
Underpayment of estimated tax
, select Setup, 1120 Corporation, Michigan Cities tab, and then select Tax Return. Select DET Form 5324 (Underpayment of Estimates) and select
Always if data
 to force the application to always print the worksheet when it contains relevant data.
Suppress penalties on return: Failure to pay
Enter
X
 to suppress the failure-to-pay penalty on the return. The application prints the Detroit Late Filing Interest and Penalty Worksheet if this box is blank and the failure-to-pay penalty is due. The Detroit Late Filing Interest and Penalty Worksheet will also print if
Late interest
 is blank and late-payment interest exists.
note
The application prints the Detroit Late Filing Interest and Penalty Worksheet when penalties or interest exist. If the
Late interest
 and
Failure to pay
 boxes are marked, the Detroit Late Filing Interest and Penalty Worksheet won't print. To suppress the late interest and failure-to-pay penalty on the return, but print the worksheet, mark the
Late interest
 and
Failure to pay
boxes, and then select Setup, 1120 Corporation, Michigan Cities tab, and then select Tax Return. Select DET Late Filing Worksheet and select
Always if data
 to force the application to always print the worksheet when it contains relevant data.
Suppress penalties on return: Late interest
Enter
X
 to suppress the late-payment interest on the return. The application prints the Detroit Late Filing Interest and Penalty Worksheet if this box is blank and late interest is due. The Detroit Late Filing Interest and Penalty Worksheet will also print if
Failure to pay
 is blank and a failure-to-pay penalty exists.

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