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Screen MEPay - Maine Payments, Extension, Penalties (706)

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Payments

Prior payments: 1st
Enter prior state payments and the dates paid. The dates you enter determine the tax due during late-interest calculations. If you didn’t enter a date, the default is the date paid to the due date of the return.

Extension

Extended due date file
When you select
File
, then
Print Extensions
 to print extensions, the extended due date automatically appears in this field. Otherwise, enter the date to use as the extended due date in the filing instructions.
Balance due on extension (Force)
Entering an amount in this field completes the
Extended due date
field, copies this amount to the
Paid with extension, for Form 706ME
field, and calculates the total tax on the extension using the prior payments entered on this screen.
Cash shortage
Enter the amount of tax the estate is requesting as an extension of time to pay. This amount calculates the amount of payment to accompany the extension request.

Penalties and Interest

Date Demand Notice received
The date of receipt is used to calculate the penalty for failure to file. If filed before the receipt or within 60 days, penalty is greater of the $25 or 10 percent of the amount due. If the return is filed more than 60 days after the receipt of demand notice, the failure to file penalty is greater of $25 or 25 percent of amount of tax due.
Date filed, if other than due date of return
Enter the date filed to calculate penalties and interest.

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