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Screen ORCPen - Oregon Composite 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 penalty for failure to pay, the penalty for failure to file, and interest on the underpayment of tax. 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, 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: Late interest
Enter
X
 to suppress the late payment interest on the return. The application prints the OR Composite Late Filing Interest and Penalty Worksheets if this field is blank and late interest is due. The OR Composite Late Filing Interest and Penalty Worksheets also print if the
Failure to file and failure to pay
 field is blank and a failure to file and failure to pay penalty exists.
Suppress penalties on return: Failure to file and failure to pay
Enter
X
 to suppress the failure to pay and failure to file penalty on the return. The application prints the OR Composite Late Filing Interest and Penalty Worksheets if this field is blank and a failure to pay and failure to file penalty is due. The OR Composite Late Filing Interest and Penalty Worksheets also print if the
Late interest
 field is blank and a late payment interest exists.
note
The application prints the OR Composite Late Filing Interest and Penalty Worksheets when penalties or interest exist. If the
Late Interest
 and
Failure to file and failure to pay
 checkboxes are all marked, the OR Composite Late Filing Interest and Penalty Worksheets don't print. To suppress the late interest and failure to pay or file penalties on the return, but print the worksheets, mark the
Late Interest
 or
Failure to file and failure to pay
 checkboxes, and select
Setup
,
1120 Corporation
, the
Oregon
 tab, then
Tax Return
. Highlight
OR Composite Late Filing Worksheet
 and select
Always if data
 to force the application to always print the worksheets when they contain relevant data.

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