Skip to main content

Solutions

Products

Recommended products

Questions? We are here to help.
Contact us

Purchase

Questions? We are here to help.

Resources

Screens

Screen PAEstS - Pennsylvania Form PA-20S Estimates (1120)

Show all hidden content

Estimates

PA-40ES - declaration for next year
Codes
1
,
2
, and
5
 are the same as those in the federal Est screen, and they tell the application which method to use to determine the amount of next year’s estimated tax.
Enter one of the options for
PA-40ES - declaration for next year
 listed in the following table or select one from the list.
Code
Result
1
Use current year liability (default). This is the default option.
2
Use the current year liability adjustment by the amount specified in
Amount to adjust current year liability (Code 2)
. If the adjustment represents a decrease, enter a negative amount.
5
Use the following amounts in the
Amounts for next year’s estimates (Code 5)
boxes before overpayment. If you select this option, the amounts entered in the
Amounts for next year’s estimates (Code 5)
 boxes are adjusted by any overpayment applied.
8
Use tax liability from Tax Projection Worksheet. Estimates are prepared even if the projected tax liability is less than the minimum amount required.
note
New clients and converted clients may benefit from Pennsylvania’s new client options. Select Setup, 1120 Corporation, the Pennsylvania tab, then select New Client Options and enter the code at
Next year’s estimate declaration
. The selection here transfers to the state input screen for newly created and converted clients and is used to calculate next year’s estimates. The transferred code may be changed here if necessary and isn't replaced by the selection in the New Client Options window.
Amounts for next year’s estimates (Code 5)
Use these to specify the estimate amounts for each quarter. These amounts won't be adjusted by the amounts entered for
Next year’s estimates already paid
.
If code
5
 is entered for
Form PA-40ES - declaration for next year
, enter the quarterly payments in these boxes.
Next year estimates already paid
Use these to enter any estimate payments already made toward the next year.
If code
1
 or
2
is entered in
Form
PA-40ES - declaration for next year
, these amounts are subtracted from the calculated quarterly gross estimated tax liability to determine the net estimate amounts.
If code
5
 is entered in
Form PA-40ES - declaration for next year
, these amounts don't adjust the amounts entered in the
Amounts for next year’s estimates (Code 5)
boxes.
Number of estimates desired, if other than 4
The number of estimate vouchers defaults to
4
. Enter a code to specify fewer than 4 vouchers. The application applies the overpayment and amounts already paid toward next year’s estimates to each voucher based on the overpayment code and the quarter in which the amounts were paid. The options for the number of vouchers are listed in the list and in the following table.
Code
Result
4
Four vouchers are generated. This is the default option.
3
The last 3 vouchers are generated. The application includes any unpaid balance from the 1st estimate in the 2nd estimate voucher.
2
The last two vouchers are generated. The application includes any unpaid balance from the first or second estimate in the 3rd estimate voucher.
1
The application allocates 100 percent of the gross estimated tax liability to the 4th voucher.
A
The application allocates 100 percent of the gross estimated tax liability to the 1st voucher.
B
The application allocates 100 percent of the gross estimated tax liability to the 2nd voucher.
C
The application allocates 100 percent of the gross estimated tax liability to the 3rd voucher.
Amount to round up each estimate
This lets rounding specifications to be entered for the estimated payments. The estimated payments can be rounded up to the nearest factor indicated. For example, to round up each estimated payment to the nearest $10, enter
10
. If this is blank, the application rounds each estimated payment up to the next dollar.
note
New clients and converted clients may benefit from Pennsylvania’s new client options. Select Setup, 1120 Corporation, the Pennsylvania tab, then select New Client Options and enter the code in
Round estimates by
. The amount entered here transfers to the state input screen for newly created and converted clients and is used to round up the estimated payments to the nearest factor. The transferred amount may be changed here if necessary and isn't replaced by the selection in the New Client Options window.

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close