How to make payments for extensions for business returns in Lacerte

How to make payments for extensions for business returns in Lacerte

Corporate (Form 1120)

Follow these steps to enter a different payment amount:

1. Go to Screen 12 Automatic Extension (7004)
2. Enter a 1 in 1 = automatic extension, 2 = blank (MANDATORY).
3. Enter the Tentative tax (-1=none) [O].
4. Enter the Payments and credits [O].

Follow these steps to e-file electronic payments with extension:

1. Go to Screen 4.1 Miscellaneous/Other Information.
2. Select the Direct Deposit of Refund (8050)/Electronic Payment section.
3. Under Extension, check the box for Electronic payment of tax due with extension.

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S-Corporate (Form 1120-S)

Follow these steps to enter a different payment amount:

1. Go to Screen 12 Automatic Extension (7004).
2. Enter a 1 in 1 = automatic extension, 2 = blank (MANDATORY).
3. Enter the Tentative tax (-1=none) [O].
4. Enter the Payments and credits [O].

Follow these steps to e-file electronic payments with extension:

1. Go to Screen 3.1 Miscellaneous/Other Information.
2. Select the Direct Deposit of Refund (8050)/Electronic Payment section.
3. Under Extension, check the box for Electronic payment of tax due with extension.

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Fiduciary (Forms 1041, 1041-A, 5227)

Follow these steps to enter a different payment amount:

1. Go to Screen 14 Extensions (7004,8868)
2. Under Extensions, check  Form 1041, Form 1041-A and Form 5227: Print applicable extension request (7004 or 8868)
3. If electronically filing, check the applicable Efile extension box
4. Under the applicable section(s) make the following entries
   • Enter the Tentative tax (-1=none) [O].
   • Enter the Payments and credits [O].

Follow these steps to e-file electronic payments with extension:

1. Go to Screen 2.1 Miscellaneous/Other Information.
2. Select the Electronic Payment section.
3. Check the box Electronic payment of tax due with extension under Extension or 8868 Extension (4720).

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Exempt Organizations (Forms 990-PF, 990-T, 4720)

Follow these steps to enter a different payment amount:

1. Go to Screen 15 Extensions.
2. Under the applicable extension section,
   • Enter 1 = automatic extension, 2 = blank (MANDATORY).
   • If electronically filing, check the e-file automatic extension box.
   • Enter the amount for Tentative tax less nonrefundable credits [O].
   • Enter the amount for Credits and payments [O].

Follow these steps to e-file electronic payments with extension:

1. Go to Screen 5.1 Electronic Filing.
2. Under the appropriate section (Form 990-PF Extension, Form 990-T Extension, Form 4720 Extension, check the box Electronic payment of tax due with extension.

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