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Fixed Assets and UltraTax CS 2023 help is now on Help and Support. We're still moving articles, but you can find most content for the 2023 tax year there. Continue using the Help & How-To Center for tax years 2022 and older.
Summary
Use the PAExt screen in the Payments folder, to generate Form REV-276 extension request / payment voucher.
Details on Form REV-276 and late penalty criteria.
Preparing the extension payment
Use the information below to prepare the Form REV-276 extension request/payment voucher.
Entering extension data
Use the PAExt screen to complete Form REV-276 for the purposes of making an extension payment. You can either have UltraTax CS calculate the extension payment amount or manually force that amount. There are different approaches to preparing an extension payment.
- To have UltraTax CS calculate the extension payment amount based on current data entered and calculations on the return: Enter X in the Calculate Extension field on the PAExt screen. 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, UltraTax CS 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: Enter an amount in the Balance due on extension (Force) field on the PAExt screen.
- To force a zero amount on Form REV-276: Enter zero (0) in the Balance due on extension (Force) field on the PAExt screen.
Printing the extension
Choose File > Print Extensions to print Form REV-276 when data entry is complete on the PAExt screen.
Preparing the return after filing an extension payment
When preparing an extended return, ensure you have the following information.
- Amount actually paid with extension: The amount paid with extension is reported in the Payments section of Form PA-40. Enter the amount on the PAExt screen in the Extension payment actually made; reportable on main return field. Note that UltraTax CS populates this field when the extension was created if UltraTax CS 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.
- Date return filed: Enter the Date return filed on the PAPen screen. If the date exceeds the original due date, UltraTax CS calculates late penalty on the unpaid balance due.
- Attach federal or state extension: UltraTax CS does not automatically attach a copy of federal Form 4868 to Form PA-40 when File > Print Extensions was used to print the federal extension. When paper filing, include with Form PA-40 a copy of federal extension (Form 4868). Also, if Form REV-276 is filed, a copy of the extension is not required to be attached to Form PA-40.
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