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Screen IACPen - Iowa Composite Penalties and Interest (1120)

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General Information

Date return filed, if different from original due date of return
If the date entered here is later than the return due date, the application calculates the late payment penalty and the late payment interest. If this field is 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 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). For more information, refer to the Client documents overview.
Suppress penalties on return: Late interest
Enter
X
 to suppress the late payment interest on the return. The application prints the IA Composite Late Filing Interest and Penalty Worksheet if this field is blank and late interest is due. The IA Composite Late Filing Interest and Penalty Worksheet also prints if the
Failure to file
 field is blank and a failure to file 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 IA Composite Late Filing Interest and Penalty Worksheet if this field is blank and the failure to file penalty is due. The IA Composite 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 IA Composite Late Filing Interest and Penalty Worksheet when penalties or interest exist. If the
Late interest
 and
Failure to file
 checkboxes are all marked, the IA Composite Late Filing Interest and Penalty Worksheet does not print. To suppress the late interest and failure to file penalties on the return, but print the worksheet, mark the
Late interest
 and
Failure to file
 checkboxes, and then select
Setup
 then
1120 Corporation
. In the Iowa tab, select the
Tax Return
 button. Highlight Late Filing Worksheet and select the
Always if data
 option to force the application to always print the worksheet when it contains relevant data.

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