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Screen ILPen - Illinois Penalties and Interest (1040)

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Overview

Use this screen to complete Form IL-2210, Computation of Penalties for Individuals.

General Information

Date return filed
If the date entered in this field 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. If you leave this field blank, it defaults to the due date (original or extended) of the return. Per the Illinois Department of Revenue, the penalties and interest amounts are not included on IL-1040, page 2, in the
amount you owe
 field. UltraTax CS includes these amounts on the payment voucher.
Suppress penalties on return
To suppress specific penalties, mark the appropriate field.

Underpayment of Estimated Tax

tax
Enter the prior-year's tax in this field. Note that UltraTax CS is not designed to calculate the Form IL-2210 penalty for a short-year client. If no tax return was filed, leave this field blank. If the client's tax liability for the prior year was zero, enter
0
 (zero).
credit
Enter the prior-year's credits in this field. If no tax return was filed, leave this field blank. If the client's credits for the prior year were zero, enter
0
 (zero).
Social security number if different
Enter the client's Social Security number from the prior-year's tax return only if the number is different from the current year's tax return.
65 or older and permanently living in nursing home during
Enter
X
 if qualifying for exemption from penalty for underpayment of estimated tax because the taxpayer is 65 or older and permanently living in a nursing home during the current year. The appropriate checkbox on Form IL-1040, Page 2, is also marked.
Withholding as actually withheld: 1st - 3rd quarter
If you enter the actual amount withheld for each quarter in the fields provided, UltraTax CS uses these amounts instead of pro-rating the total Illinois tax withheld to calculate Form IL-2210, Page 1, Step 2. The 4th quarter amount defaults to the total withholding less the first three quarters entered.

Annualized Income Installment Method

Base income
If you enter the annualized income for the appropriate quarter in the fields provided, UltraTax CS calculates Form IL-2210 based on the annualized amounts. The appropriate checkbox on Form IL-1040, Page 2, is also marked.
Exemptions
If you enter the annualized exemption for the appropriate quarter in the fields provided, UltraTax CS calculates Form IL-2210 based on the annualized amounts. The appropriate checkbox on Form IL-1040, Page 2, is also marked.

Waiver of Underpayment Penalty

Explanation of waiver request
Use the statement dialog to enter an explanation if the taxpayer is requesting a waiver of the underpayment penalty. An entry in this field is mandatory when a request to waive an amount is made.
Amount
UltraTax CS displays the amount entered here and the text "Waiver" on Form IL-2210. UltraTax CS subtracts this amount from the penalty calculation and transfers the difference to the tax return. An entry in the
Explanation of waiver request
 field must be made for this field to be included in the form calculation.

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