1120-US: Amount paid is automatically calculated with the Form 7004 extension (FAQ)

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IRS filing deadline update

The IRS MeF system is now processing returns, and the filing deadline has been extended to 11:59 PM on Wednesday, April 18, 2018. For the latest details, see UltraTax CS alerts and notices.

Question

Why is an amount paid automatically calculated with the extension?

Answer

For any client for which UltraTax CS is calculating a tax due, the application automatically shows on Form 7004 that the tax due is being paid with the extension. If you want a different amount paid with the extension, enter the desired amount in the Balance due on extension (Force) field on Screen PmtExt in the Payments folder. You can also enter zero (0) in the Balance due on extension (Force) field.

Related topic: 1120-US: Extensions FAQs

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