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Screen NCPmt - North Carolina Payments, Extension, Penalties and Interest (1065)11

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Payments

Tax 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 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

Use this section to complete Form D-410P, Application for Extension. Form D-410P is calculated by selecting File, then Print Extensions. If a blank extension form is desired, select Help, Tax Subject Index, then Web Form Instructions to link to Form D-410P from North Carolina’s website. The extension form produced by UltraTax CS isn't approved for handwritten use.
Calculate extension
Enter a code from the following table or select F4 to see the fieldview list of available options. To print the extension, select File, then Print Extensions.
Code
Description
1
Use 100 percent of current-year liability (default)
2
Use 90 percent of current-year liability
note
UltraTax CS also enters the due date in
Extended due date
.
Extended due date
If you have printed an extension by selecting File, then Print Extensions or entered data in
Calculate extension
, the extended due date automatically appears. When this box is completed and
Date
return filed
 is blank, UltraTax CS uses the date in this box to calculate penalties and interest. The extended due date also is reflected in the filing instructions.
Estimated tax liability (Force)
If you enter an amount, UltraTax CS enters this amount on Form D-410P as Tax liability for year, enters
1
in
Calculate extension
, and completes
Extended due date
.
Balance due on extension (Force)
If you enter an amount, UltraTax CS enters this amount on Form D-410P, enters
1
 in
Calculate extension
, completes
Extended due date
, and displays the amount in
Tax paid with extension
.

Penalties and Interest

Date return filed
UltraTax CS calculates penalties and interest if the date entered here is later than the original due date of the return or the extended due date. If this box is blank, the filing date 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 NC Late Filing Interest and Penalty Worksheets if this box is blank and late interest is due. The NC Late Filing Interest and Penalty Worksheets will also print 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 NC Late Filing Interest and Penalty Worksheets if this box is blank and the failure to file penalty is due. The NC Late Filing Interest and Penalty Worksheets will also print 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 NC Late Filing Interest and Penalty Worksheets if this box is blank and the failure to pay penalty is due. The NC Late Filing Interest and Penalty Worksheets will also print 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 NC Late Filing Interest and Penalty Worksheets when penalties or interest exist. If the
Suppress penalties on return:
Late interest
,
Failure to file
, and
Failure to pay
 checkboxes are all marked, the NC Late Filing Interest and Penalty Worksheets won't print.

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