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Screen WIWHPmt - Wisconsin Withholding Payments and Extension (1120)

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Payments

Prior year overpayment
Enter any prior-year overpayment in this field. The application transfers this amount to Page 1 of the return and automatically treats it as a first-quarter payment for purposes of calculating Form PW-U. Don’t include this amount again in the first payment field.
Total, or / … / 1st-5th payment
Enter the total of all estimates made for the tax year in the
Total, or
field. The application transfers this amount to Page 1 and applies it equally to all quarters for purposes of calculating Form PW-U. To override the way the application applies the total to all quarters, enter actual amounts of estimated tax for
1st payment
through
5th payment
. Once amounts are entered in any of the individual payment fields, the application ignores the value in the
Total, or
field for the purpose of calculating Page 1 of the return and Form PW-U.
The first four fields in the
Date
Paid
column default to the respective quarters’ due dates, and the fifth payment date defaults to the fourth-quarter date. If the payments were not made on the estimate due dates, enter the actual dates of payment in the fields provided.
Treat calculated amounts as paid
The application proformas the estimated payments calculated in the prior-year application to the
Calculated Amount
 fields. Enter
X
 in this field 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
Each time you print the extension (via File then Print Extensions), the application:
  • Calculates the extension payment amount and enters it in this field, and
  • Prints this amount on Form PW-1, not on Form PW-ES.
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 select
    Delete overrule
    .
  • To verify the accuracy of the overruled amount, right-click the field and select 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 select fields for which you overruled the calculated amounts and to list all overruled amounts in the Diagnostics window.

Extension

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 when calculating the late filing penalties and in the filing instructions. If this field is blank, the application assumes that the return was not put on extension.
Balance due on extension (Force)
If an amount is entered in this field, the application calculates the amount of total tax using the estimated payments and withholding entered, completes the
Extended due date
 field, and places the amount entered in this field in the Payments section.

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