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Screen DCPen - District of Columbia Penalties and Interest (1120)

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General Information

Date return filed, if different from original due date
If the date entered here is later than the return due date, the application calculates interest and the penalty for failure to pay and the penalty for failure to file. If this field is blank, the application defaults to the original due date of the return.
note
Use this field to customize the date due in the filing instruction inserts. Enter the date you want to appear in the filing instruction inserts, and then insert the variable [date filed f/t] in place of the variable [due date ASAP f/t] in the filing instruction inserts. If this field is blank, the date defaults to the due date of the return (original or extended).
Suppress penalties on return: Underpayment of estimated tax
Enter
X
 to suppress the printing of Form D-2220 and the calculation of the Form D-2220 penalty on the return. The application prints Form D-2220 and reports the underpayment penalty on Form D-20 if this field is blank and the underpayment penalty is due.
note
The application prints Form D-2220 whenever a penalty exists, even though this is inconsistent with the form’s instructions. If the underpayment of estimated tax suppression field is marked, Form D-2220 will not print. To suppress the penalty but print the form, enter
X
 in the
Underpayment of estimated tax
 field, choose Setup then 1120 Corporation in the District of Columbia tab, and then select the Tax Return button. Highlight DC Form D-2220 and choose the
Always if data
 option to force the application to always print the form when it contains relevant data.
Suppress penalties on return: Late interest
Enter
X
 to suppress the late payment interest on the return. The application prints the DC Late Filing Interest and Penalty Worksheet if this field is blank and late interest is due. The DC Late Filing Interest and Penalty Worksheet also prints if the
Failure to pay
or
failure to file
 field is blank and a failure to pay or failure to file penalty exists.
Suppress penalties on return: Failure to pay or failure to file
Enter
X
 to suppress the failure to pay or failure to file penalty on the return. The application prints the DC Late Filing Interest and Penalty Worksheet if this field is blank and the failure to pay or failure to file penalty is due. The DC Late Filing Interest and Penalty Worksheet also prints if the
Late interest
 field is blank and late payment interest exists.
note
The application prints the DC Late Filing Interest and Penalty Worksheet when penalties or interest exist. If the
Late interest
 and
Failure to pay or failure to file
 fields are both marked, the DC Late Filing Interest and Penalty Worksheet does not print. To suppress the late interest and failure to file or failure to pay penalty on the return, but print the worksheet, mark the
Late interest
 and
Failure to pay or failure to file
fields, and then choose Setup then 1120 Corporation. In the District of Columbia tab, choose the Tax Return button. Select DC Late Filing Worksheet and choose the
Always if data
 option to force the application to always print the worksheet when it contains relevant data.

Annualized Income Installment Method and Short Year

Taxable income
To calculate the annualized income installment method or to calculate form D-2220 for a short year, enter the taxable income earned for the first, second, third, and fourth periods, respectively.

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