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Screen OHCPen - Ohio Composite Penalties and Interest (1120)

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General Information

Date return filed, if different from original due date
If the date entered here is later than the return due date, the application calculates the penalty for failure to file and the late-filing interest. 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 instructions or filing instruction inserts. Enter the date you want to appear in the filing instruction or 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 or filing instruction inserts. If this field is blank, the date defaults to the due date of the return (original or extended). For more information, see Customizing client documents: variables.
Prior year tax
Enter the prior year’s tax amount in this field to calculate the underpayment penalty on composite Form IT/SD 2210.
note
The application calculates the composite Form IT/SD 2210 penalty for a short-year client.
Suppress penalties on return: Underpayment of estimated tax
Enter
X
 to suppress the printing of composite Form IT/SD 2210 and the calculation of the composite Form IT/SD 2210 penalty on the return. The application prints composite Form IT/SD 2210 if this field is blank and the underpayment penalty is due.
note
The application prints composite Form IT/SD 2210 whenever a penalty exists. If the underpayment of estimated tax suppression checkbox is marked, composite Form IT/SD 2210 doesn't print. To suppress the penalty, but print the form, enter
X
 in the
Underpayment of estimated tax
 field, then select
Setup
,
1120 Corporation
, the
Ohio
 tab, then
Tax Return
. Highlight
OH Form IT/SD 2210 (Composite Underpay of Est)
 and select
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 OH Composite Late Filing Interest and Penalty Worksheet if this field is blank and late interest is due. The OH Composite Late Filing Interest and Penalty Worksheet also prints if the
Failure to file
 field is blank and a failure to file 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 OH Composite Late Filing Interest and Penalty Worksheet if this field is blank and the failure to file penalty is due. The OH Composite Late Filing Interest and Penalty Worksheet also prints if the
Late interest
 field is blank and late payment interest exists.
note
The application prints the OH Composite Late Filing Interest and Penalty Worksheet when a penalty or interest exists. If the
Late interest
 and
Failure to file
 checkboxes are both marked, the OH Composite Late Filing Interest and Penalty Worksheet doesn't print. To suppress the late interest and failure to file penalty on the return, but print the worksheet, mark the
Late interest
 and
Failure to file
 checkboxes, select
Setup
,
1120 Corporation
, the
Ohio
 tab, then
Tax Return
. Highlight
OH Composite 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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