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 HIPen - Hawaii Penalties and Interest (1040)

Show all hidden content

Overview

Use this screen to enter data to calculate the underpayment penalty on Form N-210. Use the HI Schedule A - Annualized Income Installment Method section to calculate Form N-210, Page 2, Schedule A.

General Information

UltraTax CS uses the information entered in this section to complete Form N-210 and to calculate the penalty for failure to file, penalty for failure to pay, and late-filing interest.
Date return filed
If the date entered here is later than the return due date, UltraTax CS automatically calculates the penalty for failure to pay, the penalty for failure to file, and the interest on the underpayment. Interest and penalty amounts can be found on the Hawaii Tax Worksheets. Only the underpayment penalty is included in the final balance due on the return.
The filing date entered in
Date return filed
 is also used to calculate any underpayment penalties for Form N-210, as well as interest and penalty on late filings. If this field is blank, it defaults to the due date of the return, including extensions.

Underpayment of Estimated Tax

Use this section to enter information to determine if an exception to penalty exists.
2024
 income tax
Enter the tax liability from last year in this field. This amount is displayed on Form N-210, State of Hawaii Underpayment of Estimated Tax.
Withholding as actually withheld
To have Hawaii withholding credited as actually withheld, enter the amount of Hawaii income tax withheld from all sources for each quarter. The fourth quarter is calculated using the total withholding in the return less the three quarters entered in these fields. The amounts entered in these fields transfer to Form N-210.
Refund requested on Form N-288C
Enter the amount of refund applied for Hawaii Form N-288C. UltraTax CS reduced the amount of real estate withholding on Hawaii Forms N-11, N-15, and N-210 that transferred from the federal
A
 screen,
State and local income tax
 field with code
3
.

Annualized Income Installment Method

UltraTax CS calculates Schedule A if there's an entry in
Adjusted gross income
 for each period. In addition, UltraTax CS automatically checks Part I, checkbox b, on Form N-210, Page 1, when Schedule A is produced. If
Other taxes
 and
Credits
 are blank, UltraTax CS uses the proportional amounts per the instructions for each period.
Adjusted gross income
Enter the adjusted gross income for each period. If these fields are blank, UltraTax CS uses the proportional share of taxable income for each period.
Itemized deductions
Enter the itemized deduction amount to be used on Schedule A in the calculation of taxable income for each period.
Other taxes
Enter the other taxes amount to be used on Schedule A, in the calculation of other taxes for each period.
Credits
Enter the credit amount to be used on Schedule A, in the calculation of the credits for each period.
Long-term capital gains
Enter the long-term capital gain amount
only
 when used in the calculation of tax.

Waiver of Underpayment Penalty

Use this section to request a waiver of penalty amounts due.
Explanation of waiver request
Enter the explanation for requesting a waiver of the N-210 penalty in the statement window.
Amount
Enter the amount of the waiver requested. UltraTax CS automatically limits the amount to the calculated penalty.
Have waiver amount equal to penalty calculated
Enter
X
 to use the calculated penalty amount as the waiver amount.
note
Hawaii e-file schema doesn't let a tax return be electronically filed, when a waiver of penalties is requested.

This article applies to:

  • PRODUCT: UltraTax CS
  • Return type: 1040 Individual
  • State: Hawaii

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close