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Screen LACPmt - Louisiana Composite Payments, Extension, Penalties and Int (1065)

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Payments

Total, or: Specific payments if unequal or not timely: 1st-5th payment
Enter the total of all estimates made for the tax year in
Total, or
. To override how UltraTax CS applies the total to all quarters, enter actual amounts of estimated tax in the
1st payment
 through
5th payment
 boxes. If you enter amounts in any of the individual payment boxes, UltraTax CS ignores the value in
Total, or
 for purposes of calculating Form R-6922.
The first four boxes in the
Date
 column default to the respective quarters’ due dates and the fifth payment date defaults to the fourth-quarter date. If the payments weren't made on the estimate due dates, enter the actual dates of payment in the boxes provided.
Treat calculated amounts as amounts paid / Calculated Amount
If the return was completed using last years’ version of UltraTax CS and estimates were calculated for the current year, the amounts proforma to the
Calculated Amount
 boxes. If there hasn't been data entry for estimate payments, enter
X
 in
Treat calculated amounts as amounts paid
 to move the calculated amounts into the
Amount Paid
 boxes.
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. UltraTax CS then displays 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'll 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.

Extension

Extended due date
If you print an extension by choosing File, then Print Extensions, the extended due date automatically appears in this box. The extended due date is also reflected in the filing instructions.
Estimated tax liability (Force)
If you enter an amount, UltraTax CS enters this amount on Form R-6467V as estimated amount of tax due and completes
Extended due date
.
Balance due on extension (Force)
If you enter an amount, UltraTax CS enters this amount on Form R-6467V, completes
Extended due date
, and displays the amount in
Paid with extension
.

Penalties and Interest

Date return filed
If the date entered here is later than the return due date, UltraTax CS calculates the late payment interest and penalties for failure to file and failure to pay.
Suppress penalties on return: Late interest
Enter
X
 to suppress the late payment interest on the return. UltraTax CS prints the LA Composite Late Filing Interest and Penalty Worksheet if this box is blank and late interest is due. The LA Composite Late Filing Interest and Penalty Worksheet also prints if the
Failure to file
or
Failure to pay
 boxes are 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 LA Composite Late Filing Interest and Penalty Worksheet if this box is blank and the failure to file penalty is due. The LA Composite Late Filing Interest and Penalty Worksheet also prints if the
Late interest
 or
Failure to pay
 boxes are 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 LA Composite Late Filing Interest and Penalty Worksheet if this box is blank and the failure to pay penalty is due. The LA Composite Late Filing Interest and Penalty Worksheet also prints if the
Late interest
 or
Failure to file
 boxes are blank and late payment interest or a failure to file penalty exists.
note
UltraTax CS prints the LA Composite Late Filing Interest and Penalty Worksheet when penalties or interest exists. If the
Late interest
,
Failure to file
, and
Failure to pay
 boxes are all marked, the LA Composite Late Filing Interest and Penalty Worksheet doesn't print.

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