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Level 2
March 21, 2022

50240

  • March 21, 2022
  • 2 replies
  • 5 views
The following diagnostic is generating: Receiving a diagnostic regarding the payment of the MA Required S Corp Tax Amount of $456.00. The diagnostic says the following: efile: Extension: As no payment is being made, do not efile Form 355-7004 or it will be rejected. Extensions are granted automatically if 50% of the total excise has been paid by the original due date. Form 355-7004 should only be filed if a payment is being made (ref# 50240).
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    2 replies

    sjrcpa
    Level 15
    March 21, 2022

    Is there tax due with your extension?

    Or is the Diagnostic giving you correct info?

    The more I know the more I don’t know.
    LJB3057Author
    Level 2
    March 21, 2022

    There is an excise tax of $456 due with the extension. The actual paper form indicates the excise tax payment.