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Screen MSPmt - Mississippi Payments and Extension (1120)

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Payments

Prior year overpayment
Enter any prior-year overpayment in this field. The amount transfers to Forms 83-105 and 84-105 and is automatically treated as a first-quarter payment for purposes of calculating Form 83-305. 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. This amount transfers to Forms 83-105 and 84-105 and is applied equally to all quarters for purposes of calculating Form 83-305. To override the way the total applies to all quarters, enter the actual amounts of estimated taxes in the
1st payment
through
5th payment
fields. Once amounts are entered in any of the individual payment fields, the value in the
Total, or
field is ignored for purposes of calculating Forms 83-105, 84-105, and 83-305. The first four fields in the
Date paid
column default to the respective quarters’ due dates, and the fifth payment date defaults to the fourth quarter date. If the payments were not made on the estimate due dates, enter the actual dates of payment in the fields provided.
Treat calculated amounts as paid / Calculated amount
The estimated payments calculated in the prior year application proforma to the
Calculated amount
fields. Enter
X
to transfer amounts from the
Calculated amount
 fields to the
Amount paid
 fields.
note
Amounts entered in the
Amount paid
 fields will not be overwritten when
Treat calculated amounts as paid
 is marked.
Paid with extension
Each time you print the extension (via File then Print Extensions):
  • the extension payment amount is calculated and entered in this field, and
  • this amount prints on Page 1 of Form 83-105 or Form 84-105.
Alternatively, you can overrule the calculated amount by entering the amount actually paid with the current-year extension in this field. The new amount then displays in black.
note
  • To delete the overruled amount and restore the original calculated amount, right-click the field and choose Delete overrule.
  • To confirm the accuracy of the overruled amount, right-click the field and choose Acknowledge overruled data. The acknowledge functionality is then disabled from the right-click menu. To restore the original amount later, you will need to enter it manually.
  • 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

Use this section to complete Form 83-180 and to extend the due date of the return. To print Form 83-180, choose File then Print Extensions. If a blank extension form is desired, choose Help, Tax Subject Index, then Web Form Instructions to link to Form 83-180 from the Mississippi website. The extension form provided is not approved for handwritten use.
Extension signature
Enter
1
 to print the officer title on the extension Form 83-180. Enter
2
 to print the preparer’s title entered in Setup, Office Configuration, then Preparers on the extension Form 83-180.
note
If this field is left blank, the application defaults to the
Extension signature
 field in the Extension dialog. To change this option, choose Setup, 1120 Corporation, then Mississippi tab, and select the Extension button. If both the
Extension signature
 field in the MSPmt Screen and the
Extension signature
 field in the Extension dialog are left blank, the officer title prints on extension Form 83-180.
Pay on affiliate’s behalf (C Corp)
Enter the tentative amount of franchise tax to be paid by the parent for members of the affiliated group in the statement.
Extended due date
If you have printed an extension by choosing File then Print Extensions or have entered an amount in the
Balance due on extension (Force)
field, the extended due date automatically appears in this field. Otherwise, enter the 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 blank, it is assumed that the return was not put on extension.
Balance due on extension (Force)
If an amount is entered in this field, the amount of total tax is calculated using the estimated payments entered, completes the
Extended due date
 field, and enters the amount in the MS Payments section.

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