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Screen LAPen - Louisiana Penalties and Interest (1040)

Overview

Use this screen to complete the Louisiana Late Filing Interest and Penalty Worksheets and Form R-210R / R-210NR, Louisiana Underpayment of Individual Income Tax Penalty Computation.

General Information

Use this section to enter information for the calculation of Form R-210R / R-210NR and late filing interest and penalties.
If the date entered here is later than the return due date, UltraTax CS automatically calculates the penalty for failure to pay (FTP), the penalty for failure to file (FTF), and the interest on the underpayment. If you leave this field blank, it defaults to the due date (original or extended) of the return.
To suppress specific penalties, select the field.

Underpayment of Estimated Tax

Use this section to enter information for the calculation of Form R-210R / R-210-NR, Exceptions to penalties. Fourth quarter defaults to total withholdings less the first three quarters.
Use these fields to enter last year’s information if these amounts haven't been proforma'd. These amounts are used to calculate exceptions to the Louisiana underpayment of estimated tax penalty.
If you're not required to file estimated tax until later in the year because of a change in income, it's possible to pay in fewer installments. Enter the number of payments made that is different from the UltraTax CS default number, which is four.

Annualized Income Installment Method

Use this section to enter information for the calculation of Form R-210R / R-210NR penalties when income and deductions occur unevenly during the year. UltraTax CS automatically enters the fourth quarter of annualized income and deductions on Form R-210R / R-210NR.

Waiver of Underpayment Penalty

Use this section to request a waiver of penalty amounts.
Use the statement window to enter an explanation if the taxpayer is requesting a waiver of the underpayment penalty. An entry in this field is mandatory when a request to waive an amount is made.
UltraTax CS shows the amount entered here and the text "Waiver" on the Underpayment of Estimated Tax by Individuals form. UltraTax CS subtracts this amount from the penalty calculation and transfers the difference to the tax return. There should be an entry in
Explanation of waiver request (Required for waiver calculation)
 for it to be included in the form calculation.
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