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Screen IDPen - Idaho Penalties and Interest (1120)

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General Information

Date return filed, if different from original due date
If the date entered is later than the return due date, the application automatically calculates the penalty for failure to pay and the interest on the underpayment. If you leave this field blank, it defaults to the original due date of the return.
note
Use this field to customize the date due on the filing instruction inserts. Enter the date you want to appear on 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 41ESR and the calculation of the Form 41ESR penalty on the return. The application prints Form 41ESR if this field is blank and the underpayment penalty is due.
note
The application prints Form 41ESR whenever a penalty exists, even though this is inconsistent with the form’s instructions. If the underpayment of estimated tax suppression checkbox is marked, Form 41ESR does not print. To suppress the penalty, but print the form, enter
X
 in the
Underpayment of estimated tax
 field, choose Setup, 1120 Corporation, then Idaho tab, and select the Tax Return button. Select Form 41ESR 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 filing interest
Enter
X
 to suppress the late payment interest on the return. The application prints the ID Late Filing Interest and Penalty Worksheet if this field is blank and late interest is due. The ID Late Filing Interest and Penalty Worksheet also prints if the
Failure to file
,
Failure to pay
, or
Extension underpayment
 fields are blank and a failure to file, failure to pay, or extension underpayment penalty exists.
Suppress penalties on return: Failure to file
Enter
X
 to suppress the failure to file penalty on the return. The application prints the ID Late Filing Interest and Penalty Worksheet if this field is blank and the failure to file penalty is due. The ID Late Filing Interest and Penalty Worksheet also prints if the
Late interest, Failure to pay
 or
Extension underpayment
 fields are blank and late payment interest, a failure to pay or extension underpayment penalty exists.
Suppress penalties on return: Failure to pay
Enter
X
 to suppress the failure to pay penalty on the return. The application prints the ID Late Filing Interest and Penalty Worksheet if this field is blank and the failure to pay penalty is due. The ID Late Filing Interest and Penalty Worksheet also prints if the
Late interest
,
Failure to file
, or
Extension underpayment
 fields are blank and late payment interest, a failure to file or extension underpayment penalty exists.
Suppress penalties on return: Extension underpayment
Enter
X
 to suppress the extension underpayment penalty on the return. The application prints the ID Late Filing Interest and Penalty Worksheet if this field is blank and the extension underpayment penalty is due. The ID Late Filing Interest and Penalty Worksheet also prints if the
Late interest,
Failure to file
or
Failure to pay
 fields are blank and late payment interest, a failure to file or extension underpayment penalty exists.
note
The application prints the ID Late Filing Interest and Penalty Worksheet when penalties or interest exist. If the
Late interest
,
Failure to file
,
Failure to pay
, and
Extension underpayment
 checkboxes are all marked, the ID Late Filing Interest and Penalty Worksheet does not print. To suppress the late interest, failure to file penalty, failure to pay and extension underpayment penalties on the return, but print the worksheet, mark the
Late interest
,
Failure to file
,
Failure to pay
, and
Extension underpayment
checkboxes, and then choose Setup, 1120 Corporation, then Idaho tab, and select the Tax Return button. Select Late Filing Wrk and choose the
Always if data
 option to force the application to always print the worksheet when it contains relevant data.

This article applies to:

  • PRODUCT: UltraTax CS
  • Return type: 1120 Corporation
  • State: Idaho

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