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Screen RIPmt - Rhode Island Payments and Extension (1120)

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Payments

Prior year overpayment
Enter any prior-year overpayment in this box. The application transfers the amount entered to Page 2 of the return and automatically treats it as part of the first-estimate payment to calculate Form RI-2220. Don't include this amount again in
1st payment
.
Total, or
Enter the total of all estimates made for the tax year in
Total, or
. The application transfers this amount to Page 2 of the return. The application also transfers 25 percent of this amount to each of the four columns of Form RI-2220. To override the way the application applies the total payment on Form RI-2220, enter actual amounts of estimated tax in the
1st payment
through
4th payment
 boxes.
Once you enter amounts in any of the individual payment boxes, the application ignores the amount in
Total, or
 in calculating Forms RI-1120C, RI-1120S and RI-2220. The boxes in the
Date
Paid
 column default to the respective estimates’ due dates. If the payments weren't made on the estimate due dates, enter the actual dates of payment in the boxes provided.
Treat calculated amounts as paid
The application proformas the estimated payments calculated in the prior year to the
Calculated Amount
 boxes. Enter
X
 to transfer the amounts from the
Calculated Amount
 boxes to the
Amount Paid
 boxes.
note
Amounts entered in the
Amount Paid
 boxes won't be replaced when
Treat
calculated amounts as paid
 is marked.
Paid with extension
Each time you print the extension (via File, then Print Extensions), the application:
  • calculates the extension payment amount and enters it in this box, and
  • prints this amount on Form RI-1120C or Form RI-1120S, not on Form RI-7004.
Alternatively, you can overrule the calculated amount by entering the amount actually paid with the current-year extension in this box. The application then shows the new amount in black.
note
  • To delete the overruled amount and restore the original calculated amount, right-click the box and select Delete overrule.
  • To verify the accuracy of the overruled amount, right-click the box and select Acknowledge overruled data. The application then turns off 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 boxes for which you overruled the calculated amounts and to list all overruled amounts in the Diagnostics window.

Extension

Extension signature
The codes available in this box designate who will sign the extension. Enter
1
 or leave this box blank to indicate an officer will sign the extension. Enter code
2
 to indicate the preparer will sign the extension. When this option is selected, the application modifies the extension filing instruction or letter insert accordingly by omitting the request for an officer to sign the form.
Extended due date
If you've printed an extension by selecting File, then Print Extensions, or have entered an amount in either
Balance due on extension (Force)
,
Corporate tax current year (Force)
,
Withholding tax current year (S Corp/Force)
 or
Pass-through entity tax current year (S Corp/Force)
, the extended due date automatically appears in this box. Otherwise, enter the date to be used as the extended due date in the calculation of late-filing penalties and in the filing instructions. If this box is blank, it's assumed that the return wasn't put on extension.
Estimated tax current year (Force)
Enter an amount in this box, including
0
 (zero), to override (force) the calculated amount on Form RI-7004, line 1. The application calculates the balance due on extension based on the amount entered in this box, less any payments.
Balance due on extension (Force)
If an amount is entered in this box, the application calculates the amount of total tax using the estimated payments entered, completes
Extended due date
, and enters the amount in the Rhode Island Payments section.

This article applies to:

  • PRODUCT: UltraTax CS
  • Return type: 1120 Corporation
  • State: Rhode Island

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