Electronic funds withdrawal (EFW) with an extension
The following information is required for an electronic funds withdrawal (EFW) with an extension.
Calculate extension
- Go to theExtscreen in thePaymentsfolder.
- Enter a code in theCalculate extensionfield.
- UltraTax CS calculates the total tax liability and balance due on extension based on the information entered in the return so far. If you don't want to complete the data entry for the client until later, you can manually enter the total tax liability in theEstimate of total tax liability (Force)field and the amount you want to pay with the extension in theBalance due on extension (Force)field.
Enter a daytime telephone number
Go to the
1040
screen in the General
folder and complete the Daytime telephone/ext number
in the Taxpayer information
section.Complete bank information
- Go to theBankscreen in theGeneralfolder and enter the bank information. If the fields aren't available, delete the code in theTaxpayer verified all bank info byfield.
- Have the taxpayer verify their bank information and enter the code for the verification method. The IRS Security Summit requires the taxpayer to confirm the bank information every year in writing and that you retain the confirmation for your records. You can use theBank Account Verificationworksheet in UltraTax CS to do this. First verify that the worksheet is set to print. You can send this to your client using the organizer, eSignature, by email, or on paper.
note
You can't use multiple bank accounts for EFW.
Request a payment date
You're required to specify a date for the payment to be withdrawn. While the IRS won't withdraw the payment before the requested date, they may withdraw it after.
- Go to theELFscreen in theElectronic Filingfolder.
- In theExtension informationsection, enter the withdrawal date you want in theElectronic funds withdrawal for extensions requested payment datefield.
Enter e-filing information
Electronic funds withdrawal is only available if you're electronically filing the extension.
- Go to theELFscreen in theElectronic Filingfolder and use theFile extension electronicallydropdown list to select the extension form you're using.
- Before you transmit the extension to the IRS, go toView, thenDiagnostics, then theELF Criticaltab and clear allELF Criticaldiagnostics. If you want to verify that your EFW request is correct before you transmit the return, you need to either clear allELF Criticaldiagnostics, or go toSetup,1040 Individual,Federaltab,Other Return Optionsbutton,Client Documentstab, then selectPrint e-file filing instructions even when e-file critical diagnostics exist.
