Screen RICPen - Rhode Island Composite Penalties and Interest (1120)

General Information

If the date entered in this box is later than the return due date, the application calculates the penalty for failure to pay, the penalty for failure to file, and the interest on the underpayment. If this box is blank, it defaults to the due date (original or extended) of the return.
The application prints interest and penalty amounts on Form RI-1040C, Page 1 with the following identifying codes.
Code
Penalty
FTF
Failure to file
FTP
Failure to pay
INT
Interest due
Enter
X
to suppress the printing of Form RI-2210C and the calculation of the Form RI-2210C penalty on the return. The application prints Form RI-2210C if this box is blank and the underpayment penalty is due.
Enter
X
to suppress the late payment interest on the return. The application prints the RI Composite Late Filing Interest and Penalty Worksheet if this box is blank and late interest is due. The RI Composite Late Filing Interest and Penalty Worksheet will also print if the
Failure to file
or
Failure to pay
boxes are blank and a failure to file or failure to pay penalty exists.
Enter
X
to suppress the failure to file penalty on the return. The application prints the RI Composite Late Filing Interest and Penalty Worksheet if this box is blank and the failure to file penalty is due. The RI Composite Late Filing Interest and Penalty Worksheet will also print if the
Late interest
or
Failure to pay
boxes are blank and late payment interest or a failure to pay penalty exists.
Enter
X
to suppress the failure to pay penalty on the return. The application prints the RI Composite Late Filing Interest and Penalty Worksheet if this box is blank and the failure to pay penalty is due. The RI Composite Late Filing Interest and Penalty Worksheet will also print if the
Late interest
or
Failure to file
boxes are blank and late payment interest or a failure to file penalty exists.

Annualized Income Installment Method

Amounts entered in these boxes generate the annualized income calculation for Form RI-2210C.
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