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Screen RIPmt - Rhode Island Payments (1065)

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Payments

Amount paid with extension for RI-1065

Each time you print the extension (via File thenPrint Extensions), the application:

calculates the extension payment amount and enters it in this field, 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 field. The application then displays the new amount in black.

note

To delete the overruled amount and restore the original calculated amount, right-click the field and select Delete overrule
.

To confirm the accuracy of the overruled amount, right-click the field and choose Acknowledge overruled data. The application then disables 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 fields for which you overruled the calculated amounts and to list all overruled amounts in the Diagnostics window.

Overpayment Application

Application of current year overpayment

The code options available in this field instruct the application how to apply any current year overpayment for Form RI-1065. The overpayment options are listed in the fieldview and in the table that follows.

Code	Result
1	Refund 100 percent of the overpayment. This is the default option.
2	Apply 100 percent of overpayment to next year.
3	Apply the portion of the overpayment shown in the Amount for code #5 field to next year’s return; refund excess.

Extension

Extension due date

If you have printed an extension by selecting File
then Print Extensions
, the extended due date automatically appears in this field. Otherwise, enter the date that is to be used as the extended due date in the filing instructions.

Penalties and Interest

Date return filed

If the date entered in this field is later than the return due date, the application automatically calculates the penalties for failure to pay, failure to file, and late-payment interest. If you leave this field blank, the application defaults to the due date of the return.

Suppress penalties and interest: Late interest

Enter X
to suppress the late payment interest on the return. The application prints the RI Late Filing Interest and Penalty Worksheet if this field is blank and late interest is due. The RI Late Filing Interest and Penalty Worksheet will also print if the Failure to file
or Failure to pay
fields are blank and a failure to file or failure to pay penalty exists.

Suppress penalties and interest: Failure to file

Enter X
to suppress the failure to file penalty on the return. The application prints the RI Late Filing Interest and Penalty Worksheet if this field is blank and the failure to file penalty is due. The RI Late Filing Interest and Penalty Worksheet will also print if the Late interest
or Failure to pay
fields are blank and late payment interest or a failure to pay penalty exists.

Suppress penalties and interest: Failure to pay

Enter X
to suppress the failure to pay penalty on the return. The application prints the RI Late Filing Interest and Penalty Worksheet if this field is blank and the failure to pay penalty is due. The RI Late Filing Interest and Penalty Worksheet will also print if the Late interest
or Failure to file
fields are blank and late payment interest or a failure to file penalty exists.

note

The application prints the RI Late Filing Interest and Penalty Worksheet when penalties or interest exist. If the Late interest
, Failure to file
, and Failure to pay
checkboxes are all marked, the RI Late Filing Interest and Penalty Worksheet will not print.

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