File for Electronic Refund Disbursement Service
Thomson Reuters partners with Refund Advantage and EPS Financial to offer Electronic Refund Disbursement Service (DS) and Refund Advance (ADV).
Follow these steps to complete the application to use a Refund Advantage or EPS Financial bank product.
note
You need to apply well in advance of the tax season.
- In UltraTax CS, specify if you're participating with Refund Advantage or EPS Financial. To complete this 1-time setup procedure, selectSetup,1040 Individual,Bank Products, and mark theUse Electronic Refund Disbursement Servicecheckbox. Enter any fees in theBank Productswindow. SelectOKin theBank Productswindow and the1040 Product Informationwindow to save the changes and turn on theRALscreen.
- Select the Electronic Filing folder, then theELFscreen and enter all tax return information, including all electronic filing information.
- Select theRALscreen tab and complete all information. UltraTax CS uses the information in this screen to complete the application form. Review all diagnostics to make sure you've completed all necessary fields. Mark theType of Electronic Refund Disbursement Service (ERDS)field to generate the electronic application form.
- In theDisbursement methodfield, select a method to disburse the refund to the taxpayer:
- 1 Check
- 2 Direct deposit
- 3 Prepaid debit card
- 4 Pre-existing FasterMoney prepaid card
- If you select2 Direct deposit, select theBanktab in the General folder and enter the taxpayer's bank information in the Part I - Direct Deposit/Electronic Funds Withdrawal Information section. Complete all primary account fields. UltraTax CS transfers that information to the bank application electronic file and paper form.
- Create the electronic file. You'll also create the electronic bank application during this process.
- Transmit the electronic return using CS Connect. Upon receipt of an accepted acknowledgment from the IRS, Thomson Reuters will forward the relevant information to Refund Advantage or EPS Financial. Direct any extra information about the bank product to Refund Advantage or EPS Financial. They're responsible for any questions regarding the loan application and loan process.
