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Screen MIINSPen - Michigan Insurance Company Penalties and Interest (1120)

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General Information

Date return filed, if different from original due date
If the date you entered is later than the return due date, the application calculates the underpayment of estimated tax penalties and interest, late interest, and failure to pay penalties. If this box is blank, it defaults to the original due date of the return.
note
Use this box to customize the date due in the filing instruction inserts. Enter the date you want to appear in the filing instruction inserts. 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 box 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 4899 and the calculation of the Form 4899 penalty on the return. The application prints Form 4899 if this box is blank and the underpayment penalty is due.
note
If the
Underpayment of estimated
 tax suppression box is marked, Form 4899 won't print. To suppress the penalty but print the form, enter
X
 in
Underpayment of estimated tax
, then select Setup, then 1120 Corporation. In the Michigan tab, select Tax Return. Select MI Form 4899 and select
Always if data
 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 MI Late Filing Interest and Penalty Worksheet if this box is blank and late interest is due. The worksheet also prints if
Failure to pay
 is blank and a failure to pay 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 MI Late Filing Interest and Penalty Worksheet if this box is blank and the failure to pay penalty is due. The worksheet also prints if the Late interest box is blank and late payment interest exists.
note
The application prints the MI Late Filing Interest and Penalty Worksheet when penalties or interest exists. If the
Late interest
 and
Failure to pay
 boxes are marked, the MI Late Filing Interest and Penalty Worksheet won't print. To suppress the late interest and failure to pay penalties on the return, but print the worksheet, select the
Late interest
 and
Failure to pay
 boxes, and then select Setup, then 1120 Corporation. In the Michigan tab, select Tax Return. Select MI Late Filing Worksheet and select
Always if data
 to force the application to always print the worksheet when it contains relevant data.

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