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Extension

Prepare 1120 extensions

Do the following to print federal and state extension forms for 1 client or a batch of clients.
  1. Open the return you want to file an extension for. If the client doesn't exist in the current-year application, proforma a prior-year client or add a new client.
  2. If applicable, retrieve general ledger balances from Creative Solutions Accounting or other third-party application for each client an extension should be filed for.
  3. To specify an amount of estimated total tax liability instead of using the amount UltraTax CS calculates, enter an amount in the
    Estimate of total tax liability (Force)
     field in the
    PmtExt
     screen in the
    Payments
     folder.
  4. To specify an amount due instead of using the amount UltraTax CS calculates, enter an amount in the
    Balance due on extension (Force)
     field in the
    PmtExt
     screen in the
    Payments
     folder, and UltraTax CS does the following:
    • Calculates the amount of total tax using the estimated payments and withholding you entered.
    • Completes the
      Extended due date
       field.
    • Enters this amount in the
      Paid with extension
       field in the Payments section in the
      PmtExt
       screen.
  5. Each client’s name, address, EIN, and fiscal year end prints on Form 7004. To print an extended due date other than the default date, enter the date in the
    Extended due date
     field in the
    PmtExt
     screen.
  6. Select
    File
     then
    Print Extensions
    .
  7. Select
    Print
     then
    Extensions
    .
  8. By default, UltraTax CS prints the extension for both the federal and state returns. To print only the federal extension, select
    Options
     and verify that only the
    Federal
     checkbox is marked in the Selected Returns tab.
  9. To print extensions for clients other than or in addition to the current client, select
    Clients
      in the
    Print Extensions
     window and select the clients you want to print extensions for.
  10. Select
    Print
    .
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