Payment dates for extended returns in client letter

[jerry]

This is *NOT* about the May 17th deadline extension...

When I put a client on extension to October 15, and then a miracle happens and they get me to the info to file before the "normal deadline, Lacerte prints October 15th as the payment deadline for mailing payment with a 1040-V  in the client letter. 

This is not correct.  The payment deadline was the original April 15 (or May 17th, or July 15th ...) date, and has nothing to do with the extended filing deadline.  If they owe money, interest and penalties might be accruing from the April 15th date.

Anyone know why Lacerte prints October 15th in the letter?

Jerry

[George4Tacks]

Screen 6, towards the bottom is Paid with Extension > enter Amount paid there and the debt goes away and should adjust the letter. 

Screen 5 > Client Letter > right above the check boxes is "When to file text..." use 1 for ASAP or 2 for NOW! 

[jerry]

Yes, but they haven't paid yet!

The problem is not with amounts already paid - it's telling them that they have until October to pay any remaining amounts.

Let's say that they pay nothing with the extension on March 15th, or to be charitable,  $1000.  I record the $1000 on Screen 6.  On April 1, they discover new documents which makes their tax liability $20,000 higher. 

If they file on April 15th (in a normal year), Lacerte says that they have until October 15th to make that $19,000 payment.  That's not correct, in my opinion.

[George4Tacks]

Have you tried the entry in Screen 5 to change the wording to ASAP?

[nbeck]

Have you tried putting in a filing date on screen 8?

[jerry]

No, because I don't know the filing date when mailing out the 8879's to clients.

With an extension, they have until October 15th to get those back to me.

But they only have until April 15th to make the payments.

I could also go into Acrobat and edit the pdf's.  My point is that Lacerte shouldn't be printing them with an October payment date. 

[pamdory]

You can also edit the letter within Lacerte, But it's a static edit and won't update the letter if the amounts change.  In forms view you bring up the letter, right click on the letter and it will bring up an editor.

I haven't checked for this specific issue in Setting > Client Letter... but there are some options to use other paragraphs etc.

[nbeck]

By putting a filing date the system will calculate penalties & interest to that date and then use that date on the letter.  At least that is the way it has worked in the past.  But I have only used it after the original deadline and before October 15th.