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Screen ORMPPen - Multnomah and Portland Penalties and Interest (1120)

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General Information

Date return filed, if different from original due date
If the date entered in this field is later than the return due date, the application automatically calculates the penalty for failure to pay, the penalty for failure to file, and the interest on the underpayment. If this field is blank, it defaults to the original due date of the return.
note
Use this field to customize the date due in the filing instruction inserts. Enter the date you want to appear in the filing instruction inserts, and then insert the variable
[date filed f/t]
 in place of the variable
[due date ASAP f/t]
 in the filing instruction inserts. If this field is blank, the date defaults to the due date of the return (original or extended).
Prior year tax
Enter last year’s tax in this field. The application uses this amount to calculate exceptions to the underpayment penalties and Form QU-
2025
.
note
The application treats the prior-year tax as zero for purposes of calculating exceptions to penalties if the Initial return box is marked in the federal 1120 screen. If this is an initial year return for Multnomah County or the City of Portland but not for federal purposes, enter
0
 (zero) in the applicable fields.
Suppress penalties on Form C-
2025
 or Form SC-
2025
: Underpayment of estimated tax
Enter
X
 to suppress the printing of QU-
2025
 and the calculation of the Form QU-
2025
 penalty on the return. The application prints Form QU-
2025
 if these fields are blank and an underpayment penalty is due.
note
The application prints Form QU-
2025
 whenever a penalty exists. If the underpayment of estimated tax suppression checkbox is marked, Form QU-
2025
 doesn't print. To suppress the penalty, but print the form, enter
X
 in the
Underpayment of estimated tax
 field, select
Setup
,
1120 Corporation
, the
Oregon
 tab, then
Tax Return
. Highlight
M/P Form QU-
2025
 and select
Always if data
 to force the application to always print the form when it contains relevant data.
Suppress penalties on Form C-
2025
 or Form SC-
2025
: Late interest
Enter
X
 to suppress the late payment interest on the return. The application prints the Multnomah/Portland Late Filing and Penalty Worksheet if these fields are blank and late interest is due. The Multnomah/Portland Late Filing Interest and Penalty Worksheet also prints if the
Failure to file
 fields are blank and failure to file penalties exist.
Suppress penalties on Form C-
2025
 or Form SC-
2025
: Failure to file
Enter
X
 to suppress the failure to file penalty on the return. The application prints the Multnomah/Portland Late Filing Interest and Penalty Worksheet if these fields are blank and a failure to file penalties are due. The Multnomah/Portland Late Filing Interest and Penalty Worksheet also prints if the
Late interest
 fields are blank and late payment interest exist.
note
The application prints the Multnomah/Portland Late Filing Interest and Penalty Worksheet when penalties or interest exist. If the
Late interest
 and
Failure to file
 checkboxes are all marked, the Multnomah/Portland Late Filing Interest and Penalty Worksheet doesn't print. To suppress the late interest and failure to file penalty on the return, but print the worksheet, mark the
Late interest
 and
Failure to file
 checkboxes, then select
Setup
,
1120 Corporation
, the
Oregon
 tab, then
Tax Return
. Highlight
M/P Late Filing Worksheet
 and select
Always if data
 to force the application to always print the worksheet when it contains relevant data.

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