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This article applies to:

  • Product: UltraTax CS
  • Return type: 1120 Corporation
  • Subject: Extensions

Prepare 1120 extensions

Do the following to print federal and state extension forms for 1 client or a batch of clients.
note
  • This procedure prints copy of the extension following the government collation defined in the
    Return Collation
     window. You can modify this collation if needed. For example, you can prevent the extension transmittal letter and extension filing instructions from printing with the extension by changing the print condition for the extension transmittal letter and extension filing instructions to
    Never
     in the
    Return Collation
     window in
    Setup
     then
    1120 Corporation
    .
  • Form 7004 automatically shows that the tax due is being paid with the extension for any client's return for which UltraTax CS is calculating a tax due. If you don't want to include the tax due with the extension, access the
    PmtExt
     screen in the
    Payments
     folder, and enter
    0
     (zero) in the
    Balance due on extension (Force)
     field.
  1. Open the return you want to file an extension for. If the client doesn't exist in the current-year application, proforma a prior-year client or add a new client.
  2. If applicable, retrieve general ledger balances from Creative Solutions Accounting or other third-party application for each client an extension should be filed for.
  3. To specify an amount of estimated total tax liability instead of using the amount UltraTax CS calculates, enter an amount in the
    Estimate of total tax liability (Force)
     field in the
    PmtExt
     screen in the
    Payments
     folder.
  4. To specify an amount due instead of using the amount UltraTax CS calculates, enter an amount in the
    Balance due on extension (Force)
     field in the
    PmtExt
     screen in the
    Payments
     folder, and UltraTax CS does the following:
    • Calculates the amount of total tax using the estimated payments and withholding you entered.
    • Completes the
      Extended due date
       field.
    • Enters this amount in the
      Paid with extension
       field in the Payments section in the
      PmtExt
       screen.
  5. Each client’s name, address, EIN, and fiscal year end prints on Form 7004. To print an extended due date other than the default date, enter the date in the
    Extended due date
     field in the
    PmtExt
     screen.
  6. Select
    File
     then
    Print Extensions
    .
  7. Select
    Print
     then
    Extensions
    .
  8. By default, UltraTax CS prints the extension for both the federal and state returns. To print only the federal extension, select
    Options
     and verify that only the
    Federal
     checkbox is marked in the Selected Returns tab.
    note
    If your security configuration allows for user-defined print options, you can set various print options for all extensions printed from this workstation. To do so, select
    Setup
     then
    Office Configuration
    , and select the
    Print Options
     tab.
  9. To print extensions for clients other than or in addition to the current client, select
    Clients
      in the
    Print Extensions
     window and select the clients you want to print extensions for.
  10. Select
    Print
    .
    note
    • UltraTax CS defaults to the previous extension print selection, so you may need to reset your extension print options. If you're prompted that "The selected clients will not be printed because their entity does not support the extension selected" when you print or create an electronic extension, select
      File
       then
      Print Extensions
      , mark the
      Create electronic file
       checkbox, select
      Options
      then the
      Extension Print Options
       tab, and confirm that
      First extension
       is selected in the Which group box.
    • You should reset your extension print options to
      First extension
       after you print or create a 2nd extension.

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