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Screen ORMPPmt - Multnomah and Portland Payments and Extension (1120)

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Payments

Total, or / Specific payments if unequal or not timely: 1st-5th payments
Enter the total of all estimates made for the tax year in the
Total, or
 fields. The application transfers these amounts to Form C-2023 or SC-2023 and applies them equally to all quarters for purposes of computing Form QU-2023. To override the way the application applies the totals to all quarters, enter actual amounts of estimated tax in the
1st payment
 through
5th payment
 fields. Once amounts are entered in any of the individual payment fields for a location, the application ignores the value in the corresponding
Total, or
 field for purposes of computing Form C-2023 or SC-2023, and QU-2023.
Treat calculated amounts as paid
The application proformas the estimated payments calculated in the prior-year application to the
Calculated Amount
 fields. Enter
X
 to transfer amounts from the
Calculated Amount
 fields to the
Amount Paid
 fields.
note
Amounts entered in the
Amount Paid
 fields aren't overwritten when the
Treat calculated amounts as paid
 field is marked.
Extension payment
Each time you print the extension (via
File
,
Print Extensions
), the application:
  • Calculates the extension payment amount and enters it in this field, and
  • Prints this amount on Form C-2023 or Form SC-2023, not on Form EXT.
Alternatively, you can overrule the calculated amount by entering the amount actually paid with the current-year extension in this field. The application then displays the new amount in black.
note
  • To delete the overruled amount and restore the original calculated amount, right-click the field and select
    Delete overrule
    .
  • To confirm the accuracy of the overruled amount, right-click the field and select
    Acknowledge overruled data
    . The application then disables the acknowledge functionality from the right-click menu. To restore the original amount later, you'll need to enter it manually.
  • You can set a user preference to mark fields for which you overruled the calculated amounts and to list all overruled amounts in the Diagnostics window.

Extension

Calculate extension
Enter
1
 or leave this field blank to have the application calculate the extension at 100 percent of the current year liability. Enter
2
 to have the application calculate the extension at 90 percent of the current year liability. Enter
3
 to have the application calculate the extension at 100 percent of the prior year liability.
note
The application also enters the applicable due date in the
Extended due date
 field.
Extended due date
If you've printed an extension by selecting
File
, then
Print Extensions
, or have entered an amount in
Balance due on Extension (Force)
, the extended due date automatically appears in this field. Otherwise, enter the date to use as the extended due date in the calculation of late-filing penalties and in the filing instructions. If this field is left blank, it's assumed that the return wasn't put on extension.
Balance due on extension (Force)
If an amount is entered in this field, the application calculates the amount of total tax using the estimated amount entered, completes the
Extended due date
 field, and places the amounts that are entered in the Payments section, provided that no amounts exist there already.

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