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Screen OJGENPmt - Generic Cities Payments and Extension (1120)

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Payments

Prior year overpayment
Enter any prior-year overpayment. The 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. The application includes this amount on Form Z, Page 1. To override the way the application applies the total to all quarters, enter actual amounts of estimated tax in the
1st payment
 through
5th payment
fields. 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
 fields will not be overwritten when the
Treat calculated amounts as paid
 field is marked.
Paid with extension
Each time you print the extension (via File then Print Extensions), the application:
  • calculates the extension payment amount and enters the amount in this field, and
  • prints this amount on Form Z, 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 manually enter the amount.
  • 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 calculate the extension utilizing federal Form 7004. When this option is selected, Form Z will not print since the city accepts the federal extension when federal Form 7004 is attached to the city return when filed. In addition, 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, and the application prints federal Form 7004 with the city return. Enter
2
 to calculate the extension utilizing the Application for Extension for Form Z. When this option is selected, the Application for Extension is printed, and the application updates the
Extended due date
 field to six months beyond the original due date of the return.
note
  • The applicable due date is entered in the
    Extended due date
     field whenever a selection is made in this field.
  • If File then 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 the generic return 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 the Extension button. If a reason for extension is entered in Screen OJGENPmt, 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 OJGENPmt, 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 title in the signature area on the Application for Extension. Enter
2
 to print the preparer title in the signature area on the Application for Extension.
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 statement, the application automatically displays the appropriate officer or preparer title on the extension form unless a different selection is made in Screen OJGENPmt 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
Tentative tax (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.
Tentative tax (Force)
Enter an amount, including
0
 (zero), if you want to override (force) the calculated amount on the Generic Application for Extension, line 1. 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, 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 this field into the Payments section. Enter this information for each generic city filing an extension.

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