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Screen ORPPen - Oregon pass-through entity penalties and interest

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Date return filed, if different from original due date
If you enter a date later than the return due date, the application automatically calculates the penalty for failure to file and interest on the underpayment of tax. If this field is blank, the application 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, 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 2220 and the calculation of the Form 2220 penalty on the return. The application prints Form 2220 if this field is blank and the underpayment penalty is due.
note
The application prints Form 2220 whenever a penalty exists, even though this is inconsistent with the form's instructions. If you mark the underpayment of estimated tax suppression checkbox, Form 2220 won’t print. To suppress the penalty, but print the form, enter
X
 in the
Underpayment of estimated tax
 field, select
Setup
,
1120 Corporation
, the
Oregon
 tab, then
Tax Return
. Highlight
OR Form 2220
 and select
Always if data
 to force the application to always print the form when it includes relevant data.
Suppress penalties on return: Late interest
Enter
X
 to suppress the late payment interest on the return. The application prints the OR Pass-through Entity Late Filing Interest and Penalty Worksheet if this field is blank and late interest is due. The OR Pass-through Entity Late Filing Interest and Penalty Worksheet also prints 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 file and failure to pay penalty on the return. The application prints the OR Pass-through Entity Late Filing Interest and Penalty Worksheet if this field is blank and the failure to file and failure to pay penalty is due. The OR Pass-through Entity 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 OR Pass-through Entity Late Filing Interest and Penalty Worksheet when penalties or interest exist. If the
Late Interest
 and
Failure to file and failure to pay
 checkboxes are all marked, the OR Pass-through Entity Late Filing Interest and Penalty Worksheet doesn’t print. To suppress the late interest and failure to file penalties on the return, but print the worksheet, 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 Pass-through Entity Late Filing Worksheet
 and select the
Always if data
 option to force the application to always print the worksheet when it contains relevant data.

This article applies to:

  • PRODUCT: UltraTax CS
  • Return type: 1120 Corporation
  • State: Oregon

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