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Screen PAPmt - Pennsylvania Form RCT-101 Payments and Extension (1120)

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Payments

Prior year overpayment
Enter any prior-year overpayment in this field. The application transfers the amount entered to Form RCT-101, Page 1.
Total, or / 1st - 4th payment
Enter the total of all estimates made for the tax year in the
Total, or
 field. the application transfers this amount to RCT-101. To override the way the application applies the total to all quarters, enter actual amounts of estimated tax in the
1st payment
 through
4th payment
fields. Once amounts are entered in the
Amount Paid
fields, the application ignores the value in the
Total, or
field for purposes of calculating RCT-101 Page 1, Step D.
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 are not overwritten when the
Treat calculated amounts as paid
 field is marked.
Paid with extension: Calculated Amount
Each time you print the extension (via File then Print Extensions), the application:
  • calculates the corporate net income extension payment, enters it in this field, and
  • prints this amount on RCT-101.
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 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 at 100 percent of the current year liability using Form REV-853 if federal Form 7004 was filed. Enter
2
 to have the application calculate the extension at 100 percent of the current year liability using Form REV-853 if federal Form 7004 was not filed.
note
The application also enters the applicable due date in the
Extended due date
 field.
Extension signature
Enter
1
 or leave this field blank to have the application print the officer title on the extension. Enter
2
 to have the application print the preparer title.
Extended due date
If you have 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 this field. Otherwise, enter the date to be used as the extended due date. If this field is blank, the application assumes that the return was not put on extension.
Balance due on extension (Force)
If you enter an amount here, the application uses the payment amount on the extension, completes the
Extended due date
 field, and places the entered amount in the
Paid with extension
 field.

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