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Screen OJTOLPen - Toledo 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 in this field is later than the return due date, the application calculates the penalty for the failure to pay, the penalty for the failure to file, and the interest on the underpayment. If this field is blank, the date 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 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 Form TOL 2210 and the calculation of the underpayment penalty on the return. The application prints Form TOL 2210 if this field is blank and the underpayment penalty is due.
note
The application prints Form TOL 2210 whenever a penalty exists, even though this is inconsistent with the instructions. If the
Underpayment of estimated tax
suppression field is marked, Form TOL 2210 will not print. To suppress the penalty, but print the form, enter
X
 in the
Underpayment of estimated tax
 field, select
Setup
 then
1120 Corporation
. In the Ohio Cities tab, select the Tax Return button. Highlight Toledo Form 2210 and click the
Always if data
 option 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 Toledo Late Filing Interest and Penalty Worksheet if this field is blank and late interest is due. The Toledo Late Filing Interest and Penalty Worksheet will also print 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 Toledo Late Filing Interest and Penalty Worksheet if this field is blank and the failure to file penalty is due. The Toledo 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 Toledo Late Filing Interest and Penalty Worksheet if this field is blank and the failure to pay penalty is due. The Toledo 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 file penalty exists.
note
The application prints the Toledo Late Filing Interest and Penalty Worksheet when penalties or interest exist. If the
Late interest
,
Failure to file
, and
Failure to pay
 checkboxes are all marked, the Toledo Late Filing Interest and Penalty Worksheet will not print. To suppress the late interest, failure to file penalty, and failure to pay penalties on the return, but print the worksheet, mark the
Late interest
,
Failure to file
, and
Failure to pay
fields, and then select
Setup
 then
1120 Corporation
. In the Ohio Cites tab, select the
Tax Return
 button. Highlight Toledo Late Filing Worksheet and click the
Always if data
 option to force the application to always print the worksheet when the worksheet contains relevant data.

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