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Summary

Use Screen OKExt in the Payments folder to generate the Form 504-I extension request / payment voucher. Oklahoma also accepts federal Form 4868 as the extension request. One of the key steps to having the penalty waived is to file an extension request by the original due date. Federal Form 4868 can serve as an extension request. Oklahoma Form 504-I can be used for both the extension request and the accompanying voucher for making an extension payment.

Details on the 504-I extension request / payment voucher and filing criteria.

Preparing the extension

Use the information below to complete Form 504-I, Application for Extension of Time to File an Oklahoma Income Tax Return for Individuals.

Entering extension data

There are various approaches to preparing an extension.

• To have the application calculate a balance due with extension based on current data entry and calculations on the return: Enter X in the Calculate Extension field on Screen OKExt. Choose Setup > 1040 Individual > Federal tab > Extensions to select the method for calculating the extension payment amount. Note that when using File > Print Extensions to select multiple clients at once for electronic filing, the application marks the Calculate Extension field if the Create an extension without total tax liability amounts checkbox is not marked.
• To force the extension payment amount with Form 504-I: Enter an amount in the Balance due on extension (Force) or the Estimate of total tax liability (Force) field on Screen OKExt.
• Let the taxpayer decide the extension payment amount: To let the taxpayer decide how much to pay with extension, leave the Calculate extension and Balance due on extension (Force) fields blank on Screen OKExt. With this option, the application leaves the payment amount field blank on Form 504-I.

Printing the extension

Choose File > Print Extensions to print Form 504-I when data entry is complete on Screen OKExt.

Preparing the return after filing an extension payment

When preparing an extended return, ensure you have the following information from the extension.

• Amount actually paid with extension reported on Form 511 or 511NR: Enter the amount on Screen OKExt in the Extension payment actually made; reportable on main return field. Note that the application populates this field when the extension was created if the application calculated the extension payment amount or if the extension payment amount was forced. Change the data entry for this amount if the taxpayer paid some other amount.

  If an extension was filed via some means other than the application, enter the actual amount paid with extension in the Force field. By doing so, this will automatically complete data entry in other fields, including fields for extended due date and amount actually paid with extension.

• Date return filed: Enter the Date return filed on Screen OKPen. If the date exceeds the extended due date, the application calculates late penalty on the unpaid balance due.
• Attach federal or state extension: the application does not automatically attach a copy of federal Form 4868 or Form 504-I to Form 511 or Form 511NR when File > Print Extensions was used to print the federal extension. Include a copy of the federal or state extension with Form 511 or Form 511NR when paper filing.

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