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Screen DEPmt - Delaware Payments and Extension (1120)

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Payments

Prior year overpayment (C Corp)
Enter any prior-year overpayment. The amount transfers to Page 1 of the return. Do
not
 include this amount again in the
1st payment
 field.
Total, or / 1st - 5th payment
Enter the total of all estimates made for the tax year in the
Total, or
field. The amount transfers to Page 1 and applies equally to all quarters for purposes of calculating interest and penalties. To override the way the application applies the total to all quarters, enter actual amounts of estimated tax for the
1st payment
through
5th payment
. Once amounts are entered in any of the individual payment fields, the application ignores the value in the
Total, or
 field for purposes of calculating interest and penalties.
Treat calculated amounts as paid
The estimated payments calculated in the prior year application proforma to the
Calculated Amount
 fields. Enter
X
 to transfer amounts from the
Calculated Amount
 column to the
Amount Paid
 column.
note
Amounts entered in the
Amount Paid
 column are not overwritten when
Treat calculated amounts as paid
 is marked.
Paid with extension
Each time you print the extension (via File then Print Extensions), the application:
  • calculates the extension payment amount and enters it in this field, and
  • prints this amount on Form 1100 or 1100S.
Alternatively, you can overrule the calculated amount by entering the amount actually paid with the current-year extension in this field. The new amount is then displayed 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
    . The application then disables the acknowledge functionality from the right-click menu. To restore the original amount later, you will need to manually enter the amount.
  • 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
Enter
1
 or leave this field blank to have the application calculate the extension at 100 percent of the current-year liability. Enter
2
 to use federal Form 7004 as the extension. Form 1100-T-EXT or Form 1100-P-EXT will not be generated.
If the application is used to print the extension and either code
1
 or
2
 is entered in the
Calculate extension
 field, the application automatically displays the amount due in the
Paid with extension
 field in the Payments section.
note
The application also enters the applicable due date in the
Extended due date
 field. If File then Print Extensions is used to print the extension, the amount due is automatically shown in the
Paid with extension
 field in the Payment section.
Extension signature
Enter
1
 or leave this field blank to have the application print the officer name and title in the signature area on Form 1100-T-EXT or 1100-P-EXT. Enter
2
 to print the preparer name and title in the signature area on Form 1100-T-EXT or 1100-P-EXT.
note
To select this option globally for all clients, select
Setup
,
1120 Corporation
,
Delaware tab
 then
Extension
 button, and select the applicable option for Extension Signature. If this option is marked in the extension field, the application automatically displays the officer’s name and title or preparer’s name and title on the extension form.
Extended due date
If you have printed an extension by selecting
File
 then
Print Extensions
, or have entered an amount in either the
Balance due on extension (Force)
field, the extended due date automatically appears in this field. Otherwise, enter the due date to be used as the extended due date in the calculation of late-filing penalties and in the filing instructions. If this field is left blank, the application assumes that the return was not put on extension.
Balance due on extension (Force)
If an amount is entered, the application calculates the amount of total tax using the estimated payments and withholding entered, completes the
Extended due date
 field, and places the amount entered in the Payments section.

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