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Screen WVPmtS - West Virginia Payments and Extension (1120)

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Payments

Prior year overpayment
Enter any prior year overpayment that was credited forward to the current year. The application transfers the entered amount to Page 2 of the return.
Total, or / Specific payments if unequal or not timely: 1st - 5th payment
Enter the total of all withholding tax estimates made in the applicable
Total, or
 field. The application includes this amount on Page 2 and applies it equally to all periods for purposes of calculating the Schedule of Tax Payments on Form PTE-100, Page 5. To override how the application applies the total to all periods, enter the actual amounts of withholding estimated tax for the
1st payment
 through
5th payment
 fields. Once you enter amounts in any of the individual payment fields, the application ignores the value in the
Total, or
 field for purposes of calculating Page 2 of the return and the Schedule of Tax Payments.
The first 4 fields in the Date Paid column default to the respective period’s due date, and the 5th payment date defaults to the 4th period date. If the payments weren't made on the estimate due dates, enter the actual dates of payment.
Treat calculated amounts as paid
The application proformas the estimated payments calculated in the prior year version of the application to the
Calculated Amount
 fields. Enter
X
 to transfer amounts from the
Calculated Amount
 fields to the
Amount Paid
 fields.
note
Amounts in the
Amount Paid
 fields aren't overwritten when
Treat calculated amounts as paid
 is marked.
Paid with extension
Each time you print the extension:
  • Calculates the extension payment amount and enters it in this field, and
  • Prints this amount on Form PTE-100, not on Form PTE-100EXT.
Alternatively, you can overrule the calculated amount by entering the amount actually paid with the current-year extension. 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.
Reportable entities and withholding tax payments
Use the statement to enter amounts withheld on behalf of the corporation as reported to the corporation on Form NRW-2, K-1, 1099. The application uses this information to complete the Schedule of Tax Payments.

xtension

Calculate extension
Enter
1
 or leave this field blank to have the application calculate the extension at 100 percent of the current year liability using Form PTE-100EXT.
Enter
2
 to have the application calculate the extension at 90 percent of the current year withholding liability and 100 percent of the current year composite tax liability using Form PTE-100EXT. When this option is selected, interest is assessed on the remaining 10 percent.
Enter
3
 to use federal Form 7004 to extend the West Virginia return. This option should be used only when there's 0 tax due for the return. When option
3
 is selected, the application won't print Form SPF-100EXT, since West Virginia accepts the federal Form 7004.
Extended due date
If you've printed an extension by selecting
File
, then
Print Extensions
, or have entered an amount in the
Balance due on extension (Force)
 field, the extended due date automatically displays in this field. Otherwise, enter the date to be used as the extended due date when calculating the late filing penalties and in the filing instructions. If this field is blank, the application assumes that the return wasn't put on extension.
Balance due on extension (Force): Withholding / Composite tax
If you enter an amount in these fields, the application calculates the amount of total tax using the estimated withholding and composite entered, completes the
Extended due date
 field, and enters the amount in the applicable field of the Payments section.

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