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Screen MOKCPen - Kansas City Penalties and Interest (1120)

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Overview

Use this screen to complete the KC Late Filing Interest and Penalty Worksheet.

General Information

Use this section to enter information for the calculation of Form RD-108 late-filing interest and penalties.
Date return filed, if different from original due date
If the date entered here is later than the return due date, the application automatically calculates the penalty for failure to file, the penalty for failure to pay, and the interest on the underpayment. If this field is blank, it defaults to the original due date of the return. The application prints interest and penalty amounts, if applicable, on Page 1 of the return.
Suppress penalties on return: Late interest
Enter
X
 to suppress the late payment interest on the return. UltraTax/1120-MO prints the KC Late Filing Interest and Penalty Worksheet if this field is blank and late interest is due. The KC Late Filing Interest and Penalty Worksheet will also print if the
Failure to file or failure to pay
 field is blank and a failure to file or failure to pay penalty exists.
Suppress penalties on return: Failure to file or failure to pay
Enter
X
 to suppress the failure to file / failure to pay penalty on the return. UltraTax/1120-MO prints the KC Late Filing Interest and Penalty Worksheet if this field is blank and the failure to file or failure to pay penalty is due. The KC Late Filing Interest and Penalty Worksheet will also print if the
Late interest
 field is blank and late payment interest exists.
note
UltraTax/1120-MO prints the KC Late Filing Interest and Penalty Worksheet when penalties or interest exist. If the
Late interest
 and
Failure to file or failure to pay
 checkboxes are both marked, the KC Late Filing Interest and Penalty Worksheet will not print. To suppress the late interest, and failure to file / failure to pay penalty on the return, but print the worksheet, mark the
Late interest
 and
Failure to file or failure to pay
 checkboxes, and then choose Setup and then 1120 Corporation. In the Missouri tab, select the Tax Return button. Highlight Kansas City Late Filing Worksheet and choose the
Always if data
 option to force UltraTax/1120-MO to always print the worksheet when it contains relevant data.

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