Screen ARBank - Arkansas Direct Deposit, Electronic Funds Withdrawal (1040)

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Overview

Use this screen to enter direct deposit information for the tax return. Direct deposit is available only when filing electronically.

Direct Deposit and Electronic Funds Withdrawal

Use this section to indicate the Arkansas option for direct deposit. Form AR8453 Declaration For Electronic Filing shows details of the requested deposit. Direct deposit is available only when filing electronically.
Suppress direct deposit of refund
UltraTax CS automatically chooses direct deposit for the Arkansas return refund when financial institution information has been entered in the federal Bank Screen. Enter
X
if you do not want to deposit the state refund directly in the client’s account.
Use Refund Advantage / EPS Financial for refund deposit
Use this field to have the client’s refund, less applicable fees, deposited with Refund Advantage / EPS Financial. This field is available only when filing electronically and a bank product is selected in the federal RAL Screen.
Enable electronic funds withdrawal for a balance due return
Use this field to request an electronic withdrawal of funds for a balance due return. If this field is not enabled, no withdrawal will occur. EFW is available for electronically filed returns only.
Date of withdrawal
If filing on or before the original due date of the return, the date of withdrawal defaults to the original due date. Use this field to request an earlier withdrawal date. If filing after the original due date, enter the anticipated filing date of the return. The taxing agency will initiate a withdrawal request when the return has completed processing.
Enter the date return filed on the federal Pen Screen to include interest and penalties, if applicable.
Amount of withdrawal
Enter an amount for electronic funds withdrawal if the amount is different than the balance due on the return. If an amount less than the amount due shown on the return is entered, a payment voucher will print with the return showing the remaining balance due to be paid by check.

Estimated Payment Electronic Funds Withdrawal

Use these fields to indicate each estimate authorized for electronic withdrawal. The estimated payment amount is the calculated amount on the Arkansas Estimated Tax Payment Worksheet. Dates for electronic withdrawal may be adjusted by using the
1st payment
through
4th payment
estimate date fields. The dates and amounts of withdrawal are included on Form AR EST PMT, the Arkansas Estimated Tax Payments Worksheet, the filing instructions, and in the electronic file.

Extension Payment Electronic Funds Withdrawal

Use this section to enable electronic funds withdrawal (direct debit) for the extension. Electronic funds withdrawal is available only when filing the extension electronically.
Enable electronic funds withdrawal for extension payment
The primary account information entered in the federal  Bank Screen transfers automatically. A different account may be entered for the Arkansas return. It is recommended that the routing transit number and account number be verified annually with the taxpayer.
The amount of withdrawal equals the balance due on extension.
To prevent unintended IRA premature withdrawal penalties or excess contributions, account information does not transfer from the federal Bank Screen for an IRA. If a deposit to an IRA is intended, enter that account information in this screen. An IRA cannot be selected for electronic funds withdrawal.
Date of withdrawal
If filing on or before the original due date, the date of withdrawal defaults to the original due date. Use this field to request an earlier due date. The actual transfer of funds may occur on or after the requested due date. Delays of several days are not uncommon.

Account Information

The primary account information entered in federal Screen Bank transfers automatically. A different account may be entered for the Arkansas return. It is recommended that the routing transit number and account number be verified annually with the taxpayer.
To prevent unintended IRA premature withdrawal penalties or excess contributions, account information does not transfer from the federal Bank Screen for an IRA. If a deposit to an IRA is intended, enter that account information in this screen. An IRA cannot be selected for electronic funds withdrawal.

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