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Screen ORPmt - Oregon Payments and Extension (1120)

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Payments

Prior year overpayment
Enter any prior-year overpayment. The application automatically treats it as a 1st quarter payment for purposes of calculating Form OR-37. Don't 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 transfers this amount to Form OR-20, OR-20-I or OR-20-S and applies it equally to all quarters for purposes of calculating Form OR-37. To override the way the application applies the total to all quarters, enter actual amounts of estimated tax for
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 Page 2 of the return and Form OR-37. The 1st 4 fields in the Date Paid column default to the respective quarters’ due dates and the 5th payment date defaults to the 4th quarter date. If the payments weren't made on the estimate due dates, enter the actual dates of payment in the fields provided.
Treat calculated amounts as paid
The application proformas the estimated payments calculated in the prior-year application to the
Calculated Amount
 fields. Enter
X
 to transfer amounts from the
Calculated Amount
 fields to the
Amount Paid
 fields.
note
Amounts entered in the
Amount Paid
 fields aren't overwritten when the
Treat calculated amounts as paid
 field is marked.
Paid with extension
Each time you print the extension (via
File
,
Print Extensions
), the application:
  • Calculates the extension payment amount and enters it in this field, and
  • Prints this amount on Form OR-20, Form OR-20-INC, or Form OR-20-S, not on Form OR-20-V Ext.
Alternatively, you can overrule the calculated amount by entering the amount actually paid with the current-year extension in this field. The application then displays the new amount in black.
note
  • To delete the overruled amount and restore the original calculated amount, right-click the field and select
    Delete overrule
    .
  • To confirm the accuracy of the overruled amount, right-click the field and select
    Acknowledge overruled data
    . The application then disables the acknowledge functionality from the right-click menu. To restore the original amount later, you'll need to enter it manually.
  • 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.
Name and federal employer identification number of payer if different
Use the statement to enter the voucher number, name and federal employer identification number of the payer if different than the corporation filing the return. The application transfers this amount to Form OR-20, Form OR-20-INC or Form OR-20-S, Schedule ES, Estimated Payments or Other Prepayments.

Extension

Calculate extension
Enter
1
 or leave this field blank to have the application calculate the extension at 100 percent of the current year liability. Enter
2
 to have the application calculate the extension at 90 percent of the current year liability. When this option is selected, interest is assessed on the remaining 10 percent of the balance due.
Extended due date
If you've printed an extension by selecting
File
, then
Print Extensions
, or have entered an amount in the
Balance due on extension (Force)
 field, the extended due date automatically appears in the field. Otherwise, enter the date to use as the extended due date in the calculation of late-filing penalties and in the filing instructions. If this field is left blank, it is assumed that the return isn't put on extension.
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 that've been entered, completes the
Extended due date
 field, and places the amount that is entered in the Payments section, provided that no amount exists there already.

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