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Estimates

Pay estimated tax payments for Form 1040-ES via EFW

Follow these steps to arrange for the IRS to withdraw estimated tax payments automatically from your client's bank account using electronic funds withdrawal (EFW) when you e-file a tax return or extension.
  1. Open the 1040 client's return.
  2. Go to the Electronic Filing folder and open the ELF screen.
  3. Enter
    1
     for a tax return, or
    2
     for an extension in the
    Electronic funds withdrawal for estimated tax
     field for each quarter you want to set up an automatic payment.
  4. Open the 1040 screen in the General folder.
  5. Enter the
    Daytime telephone/ext number
     for Taxpayer Information.
  6. Open the Bank screen in the General folder.
  7. Enter the primary bank account information in the Direct Deposit/Electronic Funds Withdrawal Information section.
  8. Use CTRL+D to check for errors. Fix all Critical and ELF Critical diagnostic messages.
    note
    • The IRS will withdraw the funds on the due dates for the selected estimated tax payments.
    • Only set up EFW for quarters with estimates due to avoid errors in e-filing.
    • When you file an electronic extension and choose to make estimated tax payments through EFW, be careful when filing your final tax return. Don't change the payment codes for those same estimated tax payments. If you do, the IRS might withdraw the money twice by mistake.
      • If you've already set up EFW payments with your extension (shown by code 2 in any of the quarterly fields), keep those codes when you file your final return.
      • Don't switch to code 1 for those payments on your final return.
      • If you need to change your estimated tax payment details after submitting your extension, go to the Pay taxes by electronic funds withdrawal page of the IRS website and review the Cancellation, Errors and Questions section.

This article applies to:

  • PRODUCT: UltraTax CS
  • Return type: 1040 Individual

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