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Screen WVPmt - West Virginia Payments, Extension, Penalties and Interest (1065)

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Payments

Total, or / 1st - 5th payment
Enter the total of all withholding tax estimates made for the tax year in the
Total, or
 field. To override the way UltraTax CS applies the total to all quarters enter the actual amounts of estimated withholding tax in the
1st payment
 through
5th payment
fields. If you enter amounts in any of the individual payment fields, UltraTax CS ignores the value in the
Total, or
 field for purposes of calculating Form SPF-100, Page 2.
Treat calculated amounts as amounts paid / Calculated Amount
If the return was completed using last year’s version of UltraTax CS and withholding tax estimates were calculated for the current year, the amounts will proforma into the
Calculated Amount
 fields. If there hasn't been data entry for estimate payments, enter
X
 in the
Treat calculated amounts as amounts paid
 field to transfer the calculated amounts into the
Amount Paid
 fields.
Amount paid with extension
Each time you print the extension (via the
File
,
Print Extensions
 option), UltraTax CS:
  • 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. UltraTax CS 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 select
    Acknowledge overruled data
    . UltraTax CS then disables 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 fields for which you overruled the calculated amounts and to list all overruled amounts in the Diagnostics window.

Extension

Calculate extension
If you leave this field blank and run the Extension utility, UltraTax CS automatically selects the extension form to be used. If the federal return is extended and there's no balance due on the West Virginia return, Form SPF-100EXT won't print because West Virginia accepts the federal Form 7004. If the federal return is extended and there's a balance due on the state return, Form SPF-100EXT will print. If the federal return isn't extended, Form SPF-100EXT will print.
Enter
1
 or leave this field blank to calculate the extension at 100 percent of the current year liability using Form SPF-100EXT.
Enter
2
 to calculate the extension at 90 percent of the current year withholding liability.
Enter
3
 to use federal Form 7004. Form SPF-100EXT won't print.
Nonresident withholding tax due on extension (Force)
If you enter an amount in these fields, UltraTax CS enters this amount on Form SPF-100EXT, completes the
Extended due date
 field, and places the total amount that you enter in the
Amount paid with extension
 field.

Penalties and Interest

Date return filed
If the date entered is later than the return due date, UltraTax CS automatically calculates the penalty for failure to pay, the penalty for failure to file, and the late-filing interest on Form SPF-100. If you leave this field blank, it defaults to the due date of the return.
Suppress penalty on return: Late interest
Enter
X
 to suppress the late payment interest on the return. UltraTax CS prints the WV Late Filing Interest and Penalty Worksheet if this field is blank and late interest is due. The WV Late Filing Interest and Penalty Worksheet also prints if the
Failure to file
 or
Failure to pay
 fields are blank and failure to file or failure to pay penalty exists.
Suppress penalty on return: Failure to file
Enter
X
 to suppress the failure to file penalty on the return. UltraTax CS prints the WV Late Filing Interest and Penalty Worksheet if this field is blank and the failure to file penalty is due. The WV Late Filing Interest and Penalty Worksheet also prints if the
Late interest
 or
Failure to pay
 fields are blank and late payment interest or a failure to pay penalty exists.
Suppress penalty on return: Failure to pay
Enter
X
 to suppress the failure to pay penalty on the return. UltraTax CS prints the WV Late Filing Interest and Penalty Worksheets if this field is blank and the failure to pay penalty is due. The WV Late Filing Interest and Penalty Worksheet also prints if the
Late interest
 or
Failure to file
 fields are blank and late payment interest or a failure to file penalty exists.
note
UltraTax CS prints the WV Late Filing Interest and Penalty Worksheet when penalties or interest exist. If the
Late interest
,
Failure to file
, and
Failure to pay
 fields are all marked, the WV Late Filing Interest and Penalty Worksheet doesn't print.

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