Screen OJAKREst - Akron Estimates (1040)

Show all hidden content

Overview

Use this screen to complete Akron Estimates information.

Overpayment Application

Use this section to apply any current year overpayment to next year's estimated tax payment.
Application of overpayment
The default is to refund any overpayment. Select a different option to calculate next year's estimated tax and apply some or all of the overpayment to that estimate.

Estimates - Calculated

To calculate next year's estimated city tax liability and required payments, make an entry in
Application of overpayment
, or make an entry in
Estimates - declaration for
.
Estimates - declaration for
Use one of the available options to calculate next year's estimated tax. If code
2
through
8
is entered in
Application of overpayment
, the software defaults to option 1 in
Estimates - declaration for
.
Amounts for code 5, 9 or estimates paid
When
Estimates - declaration for
is code
5
or
9
, enter the quarterly payments. When
Estimates - declaration for
is code
1
,
2
, or
6
, enter the amount already paid with each estimated tax voucher.
Pay entire estimated tax now instead of quarterly
The default is to pay 25 percent of the estimated tax with the return. Select this field to pay 100 percent with the return.
Amount to round up each estimate
The calculated quarterly payments can be rounded up to any multiple of this value. For example, to round up each estimated payment to the nearest $10, enter
10
.
Treat 4th quarter estimate as due on 12/31/
Use this field to indicate in the filing instructions that the fourth quarter estimate is due by 12/31. A global default is available for all new clients for all city returns. Select
Setup
,
1040 Individual
,
Federal
tab, select
New Client Options
, and mark
Treat the 4th quarter state estimate as due on December 31st
.

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close