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Screen OJCOLPmt - Columbus Payments and Extension (1120)

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Payments

Prior year overpayment
Enter any prior-year overpayment. This amount transfers to Page 1 of the return. 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. This amount transfers this amount to Page 1 and applies it equally to all quarters for purposes of calculating interest and penalties. To override the way the application applies the total to all quarters, enter the actual amount 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 interest and penalties.
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.
Paid with extension
Each time you print the extension (via File then Print Extension), the application::
  • calculates the extension payment amount and enters it in this field, and
  • prints this amount on Form BR-25, Page 1.
Alternatively, you can overrule the calculated amount by entering the amount actually paid with the current-year extension in this field. The new amount is then displayed 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

Calculate extension
Enter
1
 or leave this field blank to have the application calculate the extension utilizing Form BR-42. When this option is selected, the
Extended due date
 field is updated to the last day of the month following the extended federal due date. Enter
2
 to have the application calculate the extension utilizing federal Form 7004. When this option is selected, the application prints federal Form 7004 and updates the
Extended due date
 field to the last day of the month following the extended federal due date. If an amount due exists, Form BR-42 will print since Columbus requires that Form BR-42 be utilized to extend a balance due return.
note
  • The applicable due date is entered in the
    Extended due date
     field whenever a selection is made in this field.
  • If File > Print Extensions is used to print the extension, the amount due is automatically shown in the
    Paid with extension
     field in the Payments section.
Reason for extension
Enter the reason for extending Form BR-25 in the statement. To enter a reason for extension that applies for all city clients in the application, select
Setup
,
1120 Corporation
 then
Ohio Cities
 tab, and then select
Extension
. If a reason for extension is entered in Screen OJCOLPmt, the reason for extension from the Extension statement does not print. If a reason for extension is not entered under the Extension statement or in Screen OJCOLPmt, the standard line is printed on all extensions for this application: "Additional time is requested to gather information to prepare a complete and accurate return."
Extension signature
Enter
1
or leave this field blank to print the officer name and title in the signature area on Form BR-42. Enter
2
 to print the preparer name and title in the signature area on Form BR-42.
note
To select an option globally for all clients, select
Setup
,
1120 Corporation
 then
Ohio Cities
 tab. Select
Extension
 and enter a selection in the
Extension signature
field. If either option is selected in the Extension dialog, the application displays the officer or preparer name and title on the extension form unless a different selection is made in Screen OJCOLPmt for a specific client.
Extended due date
If you have printed an extension by selecting
File
 then
Print Extensions
, or have entered an amount in either the
Balance due on extension (Force)
field or the
Estimated tax due (Force)
 field, the extended due date automatically appears in this field. Otherwise, enter the date to be used as the extended due date when calculating the late filing penalties and in the filing instructions. If this field is blank, the application assumes that the return was not put on extension.
Estimated tax due (Force)
Enter an amount, including
0
 (zero), if you want to override (force) the calculated amount on Form BR-42, Column 2. The application calculates the balance due on extension based on the amount entered in this field, less any payments.
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 places the amount entered in the Payments section.

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