Each time you print the extension (via the File > Print Extensions option), the application:

• calculates the extension payment amount and enters it in this field,
• prints this amount on the main return, not on the extension, and

Alternatively, you can overrule the calculated amount by entering the amount actually paid with the current-year extension in this field. The application then displays the new amount in black.

The code options instruct the application how to apply any current-year overpayment. The code affects the information that prints on Form BIRT, line 10. The overpayment options are listed in the fieldview and in the following table.

Enter 1 or 2 to calculate the extension coupon and extend the return to the extended federal date or the 60-day automatic extension, respectively. Press F4 to view the choices. To print the extension, choose File > Print Extensions.

If an extension is printed by choosing File > Print Extensions or a code is entered in the Calculate extension payment field, the extended due date appears. When this field is completed and the Date return filed field is blank, the application uses the date in this field to calculate penalties and interest and the extended due date is also reflected in the filing instructions.

If you enter an amount here, the application enters this amount on Form BIRT Payment as 100 percent estimated 2015 Business Income & Receipts tax due, enters 1 in the Calculate extension payment field, and completes the Extended due date field.

If an amount is entered, the application displays the amount on the Business Income & Receipts Tax Extension Coupon and enters the amount in the Paid with extension field.

If the date entered is later than the return due date, the application calculates the penalty for failure to file and late-filing interest on the Form BIRT Late Filing Interest and Penalty Worksheet. If you leave this field blank, it defaults to the due date (original or extended) of the return. The application prints the calculated amount on Form BIRT / BIRT-EZ, line 8.

Enter X to suppress the late payment interest on the return. The application prints the Form BIRT Late Filing Interest and Penalty Worksheet if this field is blank and late interest is due. The Form BIRT Late Filing Interest and Penalty Worksheet also prints if the Failure to Pay field is blank and failure to pay penalty exists.

Enter X to suppress the failure to pay penalty on the return. The application prints the Form BIRT Late Filing Interest and Penalty Worksheet if this field is blank and failure to pay penalty is due. The Form BIRT Late Filing Interest and Penalty Worksheet also prints if the Late interest field is blank and late interest exists.