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Screen OKWHPen - Oklahoma Withholding 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 automatically calculates the delinquency penalties and interest on Page 1 of the return. If this field is blank, it defaults to the due date of the return.
If the return was filed prior to the due date, enter the filing date in this field to prevent the application from calculating the underpayment penalty as of the early filing date.
note
Use this field to customize the date due in the filing instructions or filing instruction inserts. In this field, enter the date you want to appear in the filing instructions or filing instruction inserts, and then insert the variable [date filed f/t] in place of the variable due date [due date ASAP f/t] in the filing instructions or filing instruction inserts. If the field is blank, the date defaults to the due date of the return (original or extended).
Prior year tax
Enter the amount of last year’s withholding. The application uses this amount to calculate Form OW-9-P.
note
The application calculates the OW-9-P penalty for a short-year client.
Suppress penalties on return: Underpayment of estimated tax
Enter
X
 to suppress the underpayment of estimated tax penalty on the return. The application prints Form OW-9-P if this field is blank and an underpayment of estimated tax penalty is due. Form OW-9-P also prints 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: Late interest
Enter
X
 to suppress the late payment interest on the return. The application prints Form OW-9-P if this field is blank and late interest is due. Form OW-9-P also prints if the
Underpayment of estimated tax
 or
Failure to pay
 fields are blank and underpayment of estimated tax penalty or 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 Form OW-9-P if this field is blank and the failure to pay penalty is due. Form OW-9-P also prints if the
Underpayment of estimated tax
or
Late interest
 fields are blank and underpayment of estimated tax penalty or late payment interest exists.
note
The application prints Form OW-9-P when a penalty or interest exists. If the
Suppress penalties on return: Underpayment of estimated tax
,
Late interest
 and
Failure to pay
 checkboxes are all marked, Form OW-9-P does not print. To suppress the underpayment of estimated tax penalty, late interest, and failure to pay penalty on the withholding return, but print Form OW-9-P, mark the
Underpayment of estimated tax
,
Late interest
 and
Failure to pay
 checkboxes, and then choose Setup, 1120 Corporation, and then Oklahoma tab, choose the Tax Return button. Select OK Form OW-9-P and choose the
Always if data
 option to force the application to always print the form when it contains relevant data.

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