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Screen NJLetter - New Jersey Client Documents and Elections (1120)

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Electronic Funds Transfer Payments (S Corp)

Composite return / Extension / Estimate filing instruction
S Corporations filing composite returns on behalf of nonresident shareholders can use these boxes to instruct the client to make those payments by electronic funds transfer (EFT). The New Jersey Division of Taxation mandates that all payments toward corporate returns, extensions and estimates will need to be made electronically, therefore the application automatically defaults the corporate return, extension and estimated payments to electronic funds transfer.

Online Payment Options

Corporate return filing instructions
When paying the corporate return balance due online, select
1
in this box to indicate the payment was completed by the preparer, or
2
to indicate the payment should be made by the taxpayer.
Extension filing instruction
When paying the extension balance due online, select a
1
in this box to indicate that the payment was completed by the preparer, or
2
to indicate the payment should be made by the taxpayer.
note
Note:
When paying an extension balance due online, the electronic extension shouldn't be generated, as New Jersey requires a balance due extension e-file to contain the payment within the e-file.
Estimate filing instruction
When paying estimated taxes online, select
1
 in this box to indicate that the payment(s) will be completed by the preparer, or
2
to indicate the payment(s) should be completed by the taxpayer.
note
Note:
When paying estimates taxes online, the electronic estimate(s) shouldn't be generated, as New Jersey requires balance due estimate files to contain the payment within the e-file(s).

Custom Paragraphs

Number
Enter the paragraph number that corresponds to the custom paragraph required in the client documents for this client or use the dropdown list to view a list of available paragraphs. An entry in these boxes prints the selected paragraph in the client document.
note
To create custom paragraphs, select Setup, 1120 Corporation, New Jersey tab, select Filing Instructions or Letter Insert, then select the Custom Paragraphs tab.

Elections

Number
Enter the election number that corresponds to the election statement required for this client. The application can print up to three election statements with the return. Enter the election number directly or select from the dropdown list.

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