1120-US: Processing a client return using the state and city tax accrual option (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

How should I process a client using the state and city tax accrual option?

Answer

UltraTax CS calculates the state and city tax accrual if you enter X in the Accrue state and city tax field in Screen TaxAc1 in the Tax Accrual folder. UltraTax CS calculates the state and city tax accrual only when you print the return, preview the return, or exit data entry. Therefore, if you change any amounts before or after you calculate the state and city tax accrual, you must preview the return or exit data entry before you see the new results.

Note: The amount of time UltraTax CS needs to calculate the state and city tax accrual may take several additional minutes. Therefore, do not enter X in the Accrue state and city tax field until you enter all other information in the return.

Related topic: 1120-US: Tax accrual FAQs

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