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 CTPay - Connecticut Payments, Extensions, Penalties (990)

Show all hidden content
note
This screen is for UltraTax CS 2024 and prior.

Payments

Prior year overpayment applied
Enter any prior-year overpayment applied to estimates. This information proformas automatically from year to year. The amount displays as a credit in the Payments section of Form CT-990T. It also applies the amount you enter to the current year’s first quarter estimate to calculate Form CT-1120I.
Total, or
Enter the total current-year estimates if you paid them in equal amounts and on time. This amount applies equally to all estimated tax payments to calculate Form CT-990T. Enter actual amounts in the
Amount Paid
 column to override this amount. After you enter amounts in the specific fields, the information in the
Total, or
 field is ignored.
Treat calculated amounts as paid
The calculated estimates are proforma’d if they were used to prepare the client’s return in the prior year. When you enter
X
 in this field, the amounts copy to the
Amount Paid
 column from the
Calculated Amount
 column. The amounts are treated as timely unless you enter dates in the
Date Paid
 column.
Specific payments if unequal or not timely
Enter the date and amount of the 1st, 2nd, 3rd, 4th, and 5th estimated payments. The amounts are automatically treated as timely unless you enter dates in the
Date Paid
 fields. After amounts are entered in the separate payment fields, the
Total, or
 field is ignored.

Extensions

Extended due date: Form CT-990T
If you print an extension by selecting
File
 then
Print Extensions
, the extended due date automatically displays in this field. Otherwise, enter the date to use as the extended due date in the filing instructions.
Balance due on extension (Force): Form CT-990T
Entering an amount here uses this amount as the total tax due, completes the
Extended due date: Form CT-990T
 field and places this amount in the
Paid with extension, for Form CT-990T
 field.

Penalties and Interest

Date filed, if other than due date of return: Renewal Registration / Form CT-990T
If you enter a date that is after the return due date, the late payment interest, failure to file, and failure to pay penalties calculate automatically. If you leave this field is blank, the default is the due date (original or extended) of the return.
Prior year tax (Before any tax credits)
Enter the prior year tax from Form CT-990T. This information proformas automatically from year to year.
Annualized income
Amounts entered in these fields generate the annualized income calculation for Form CT-1120I.
Suppress on: Underpayment of estimated tax penalty: Form CT-990T
Enter
X
 to suppress the printing of Form CT-1120I and the calculated penalty on the return. This form prints as the instructions state conditions for printing.
To suppress the penalty but print the form, enter
X
 in the
Underpayment of estimated tax penalty
 field, switch to Form view then select
Edit
,
Overrides
 then
Force Form to Print
.
Suppress on: Late interest: Form CT-990T
The Interest and Penalty Worksheets print if any penalty exists and is not suppressed. Enter
X
 to suppress any late interest calculated on Form CT-990T and to print "Interest suppressed on the return" on the worksheet.
Suppress on: Failure to file / failure to pay penalties: Renewal Registration
The Interest and Penalty Worksheets print if any penalty exists and is not suppressed. Enter
X
 to suppress any penalty calculated on Form CT-990T and to print "Penalty suppressed on the return" on the worksheet.

This article applies to:

  • PRODUCT: UltraTax CS
  • Return type: 990 Exempt Organization
  • State: Connecticut

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close