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Screen OJMNPPen — Municipal Net Profit Penalties and Interest (1120)

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General Information

Date return filed, if different from original due date
If the date entered in this field 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 field is blank, it defaults to the original due date of the return.
note
Use this field 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 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 the MNP Underpayment of Estimated Tax Worksheet and the calculation of the underpayment penalty on the return. The application prints the MNP Underpayment of Estimated Tax Worksheet if this field is blank and the underpayment penalty is due.
note
The application prints MNP Underpayment of Estimated Tax Worksheet whenever a penalty exists, even though this is inconsistent with the instructions. If the
Underpayment of estimated tax
suppression field is marked, the underpayment penalty worksheet will not print. To suppress the penalty but print the worksheet:
  1. Enter
    X
     in
    Underpayment of estimated tax
  2. Select
    Setup
    , then
    1120 Corpora
    tion.
  3. On the
    Ohio Cities
     tab, select
    Tax Return
    .
  4. Highlight
    MNP Underpayment Penalty Worksheet
     and select
    Always if data
     to force the application to always print the worksheet 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 MNP Late Filing Interest and Penalty Worksheet if this field is blank and late interest is due. The MNP Late Filing Interest and Penalty Worksheet also prints if the
Failure to file
 or
Failure to pay
 fields are blank and a failure to file or failure to pay 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 MNP Late Filing Interest and Penalty Worksheet if this field is blank and the failure to file penalty is due. The MNP Late Filing Interest and Penalty Worksheet will also print if the
Late interest
 or
Failure to pay
 fields are blank and late payment interest or 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 CCA Late Filing Interest and Penalty Worksheet if this field is blank and the failure to pay penalty is due. The CCA Late Filing Interest and Penalty Worksheet will also print if the
Late interest
 or
Failure to file
 fields are blank and late payment interest or a failure to file penalty exists.
note
The application prints the MNP Late Filing Interest and Penalty Worksheet when penalties or interest exist. If
Late interest
,
Failure to file
, and
Failure to pay
 are all marked, the MNP Late Filing Interest and Penalty Worksheet does not print. To suppress the late interest, failure to file penalty, and failure to pay penalties on the return, but print the worksheet:
  1. Mark the
    Late interest
    ,
    Failure to file
    , and
    Failure to pay
     fields
  2. Select
    Setup
    , then
    1120 Corporation
    .
  3. On the
    Ohio Cities
     tab, select
    Tax Return
    .
  4. Highlight MNP Late Filing Worksheet
  5. Select
    Always if data
     to force the application to always print the worksheet when it contains relevant data.

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