FormSource: Example - 1120C Corporations with Estimated Tax Penalties

Query Criteria

The firm prepares a variety of 1120 returns so a query criterion should be included to check for the C Corporation return type. Additionally, this situation requires some tax knowledge because of the underpayment penalty compute and print options that are available. The estimated tax penalty may be computed on Form 2200 but not carried to Form 1120, Page 1, line 34. Querying only the Form 1120 field will not generate complete results. Both fields should be included in the query to ensure that all applicable returns are identified.

Result Selections Example

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Last Modified: 03/19/2020

Last System Build: 02/03/2022