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Screen VTPenS - Vermont 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 calculates the late filing penalty, the late payment penalty, and the interest on the underpayment. If you leave this field 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).
Suppress penalties on return: Late interest
Enter
X
 to suppress the late payment interest on the return. The VT Late Filing Interest and Penalty Worksheet prints if this field is blank and late interest is due. The VT Late Filing Interest and Penalty Worksheet will also print if the
Failure to file
or
Failure to pay
 fields are blank and a failure to file or failure to pay penalty exists.
Suppress penalties on return: Failure to file
Enter
X
 to suppress the failure to file penalty on the return. The VT Late Filing Interest and Penalty Worksheet prints if this field is blank and the failure to file penalty is due. The VT Late Filing Interest and Penalty Worksheet will also print if the
Late interest
 or
Failure to pay
 fields are blank and late payment interest or a failure to pay penalty exists.
Suppress penalties on return: Failure to pay
Enter
X
 to suppress the failure to pay penalty on the return. The VT Late Filing Interest and Penalty Worksheet prints if this field is blank and the failure to pay penalty is due. The VT Late Filing Interest and Penalty Worksheet will also print if the
Late interest
 or
Failure to file
 fields are blank and late payment interest or a failure to file penalty exists.
note
The VT Late Filing Interest and Penalty Worksheet prints when penalties or interest exist. If the
Late interest
,
Failure to file
, and
Failure to pay
 fields are all marked, the VT Late Filing Interest and Penalty Worksheet will not print. To suppress the late interest, failure to file penalty, and failure to pay penalties on the return, but print the worksheet, mark the
Late interest
,
Failure to file
, and
Failure to pay
fields, and then choose Setup > 1120 Corporation. In the Vermont tab, click the Tax Return button. Highlight Late Filing Wrk and click the
Always if data
 option to force the worksheet to always print when it contains relevant data.

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