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Screen HICPmt - Hawaii Composite Payments, Extension, Pen and Int (1065)

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Payments

Prior year overpayment applied
Enter any prior-year overpayment. UltraTax CS transfers the amount you enter to Form N-15, Page 4.
Estimated tax payments
Enter the amount of current year estimated tax payments. UltraTax CS transfers the amount you enter to Form N-15, Page 4.
Paid with extension
Each time you print the extension (via File, then Print Extensions), UltraTax CS:
  • calculates the extension payment amount and enters it in this box, and
  • prints this amount on the main return, not on the extension. Alternatively, you can overrule the calculated amount by entering the amount actually paid with the current-year extension in this box. The application then shows the new amount in black.
Alternatively, you can overrule the calculated amount by entering the amount actually paid with the current-year extension in this box. UltraTax CS then shows the new amount in black.
note
  • To delete the overruled amount and restore the original calculated amount, right-click the box and select Delete overrule.
  • To confirm the accuracy of the overruled amount, right-click the box and select Acknowledge overruled data. UltraTax CS then turns off 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 mark boxes for which you overruled the calculated amounts and to list all overruled amounts in the Diagnostics window.
Amount applied to next year
Enter the amount of current year overpayment to apply to next year’s tax liability.

Extension

Extended due date
If you have printed an extension by selecting File, then Print Extensions, the extended due date automatically appears in this box. Otherwise, enter the date that is to be used as the extended due date in the filing instructions.
Balance due on extension (Force)
The amount you enter displays on the extension as the balance due, completes
Extended due date
, and shows the amount in
Paid with extension
.

Penalties and Interest

Underpayment penalty
Enter the amount of penalty for underpayment of estimated tax. The amount you enter displays on Form N-15, Page 4.
Form N-210 attached to return
Enter
X
 if Form N-210 will be attached to Form N-15. The box on Form N-15, Page 4, line 66 will also be marked.
Date return filed
If the date entered in this box is later than the return due date, UltraTax CS automatically calculates the penalties for failure to pay, failure to file, and late-filing interest. If you leave this blank, UltraTax CS defaults to the date in
Extended due date
. If both
Date return filed
 and
Extended due date
 are blank, UltraTax CS defaults to the due date of the return.
Suppress penalties on return: Late interest
Enter
X
 to suppress the late payment interest on the return. UltraTax CS prints the HI Composite Late Filing Interest and Penalty Worksheet if this box is blank and late interest is due. The HI Composite Late Filing Interest and Penalty Worksheet also prints if
Failure to file
or
Failure to pay
 is blank and a failure to file or failure to pay penalty exists.
Suppress penalties on return: Failure to file
Enter
X
 to suppress the failure to file penalty on the return. UltraTax CS prints the HI Composite Late Filing Interest and Penalty Worksheet if this box is blank and the failure to file penalty is due. The HI Composite Late Filing Interest and Penalty Worksheet also prints if
Late interest
 or
Failure to pay
 is blank and late payment interest or a failure to pay penalty exists.
Suppress penalties on return: Failure to pay
Enter
X
 to suppress the failure to pay penalty on the return. UltraTax CS prints the HI Composite Late Filing Interest and Penalty Worksheet if this box is blank and the failure to pay penalty is due. The HI Composite Late Filing Interest and Penalty Worksheet also prints if
Late interest
 or
Failure to file
 is blank and late payment interest or a failure to file penalty exists.
note
UltraTax CS prints the HI Composite Late Filing Interest and Penalty Worksheet when penalties or interest exist. If
Late interest
,
Failure to file
, and
Failure to pay
 are all marked, the HI Composite Late Filing Interest and Penalty Worksheet doesn't print.

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