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Screen DCBank - District of Columbia Direct Deposit, Electronic Withdrawal (1040)
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Overview
Use this screen to enter direct deposit and electronic funds withdrawal information for the tax return and extension. Direct deposit is available when filing either electronically or on paper. Electronic funds withdrawal is available only when filing electronically. A balance due extension filed electronically must include an electronic funds withdrawal.
Direct Deposit and Electronic Funds Withdrawal
Use this section to indicate the District of Columbia option for direct deposit and electronic funds withdrawal (direct debit). Form D-40 shows details of the requested deposit. Direct deposit is available when filing either electronically or on paper. Electronic funds withdrawal for the return is available only when filing electronically.
Suppress direct deposit of refund
UltraTax CS automatically chooses direct deposit for the District of Columbia return refund when you enter financial institution information in the federal Screen Bank. Enter
X
if you don't want to deposit the state refund directly in the client's account.Method of refund, if not direct deposit
Use the dropdown list to indicate whether the client's refund should be mailed to the client in the form of a paper check or debit card (DC Tax Refund Visa Prepaid Card). A prepaid debit card is available for refunds from $2 to $4,000. If you select the
Suppress direct deposit of refund
field for electronically filed returns, the default is for the state to issue a check for the refund. This field is also available for paper-filed returns.Use Refund Advantage / EPS for refund deposit
Use this field to have the client's refund deposited with Refund Advantage / EPS Financial. This field is available only when you file 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 funds withdrawal for a balance due return. If you don't enable this field, no withdrawal occurs. The District of Columbia OTR initiates the withdrawal upon receipt of the electronic return.
note
The fields aren't available for nonresident returns.
Estimated Payment Electronic Funds Withdrawal
Use this section to designate estimated payments electronic funds withdrawal for electronically filed returns.
Electronically withdraw funds for estimate payments
Electronic funds withdrawal of estimates is available only for electronically filed returns. Direct deposit or direct debit of a balance due is not required for direct debit of estimates.
Use these fields to indicate each estimate authorized for electronic withdrawal. The estimated payment amount is the calculated amount on the District of Columbia Estimated Tax Payments Worksheet. You can adjust dates by using the 1st - 4th payment: Requested Withdrawal Date fields.
The estimates are created with the return, but each estimate will be a separate e-file that must be transmitted from Connect.
note
If the District of Columbia return is rejected and the estimates are accepted, it is necessary to remove the
X
's and dates for the estimates before recreating the District of Columbia return. Otherwise the e-file won't be created since UltraTax won't allow another return to be created when there is an accepted return on file. Be sure to go back and enter the X
's and dates so the estimate information will proforma next year.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
Use this field to request an electronic funds withdrawal for a balance due extension. No withdrawal occurs unless you enable this field.
Date of withdrawal
For payments on returns received on or before the due date, the payment can't be more than 30 days from the due date. For returns received after the due date of the return, the payment date can't be more than 30 days from the received date.
The transmission date is used for the withdrawal date when this field is left blank.
Primary Account for Deposit and Withdrawal
The primary account information entered in the federal Screen Bank transfers automatically. You can enter a different account for the District of Columbia return. It's recommended that you annually verify the routing transit number and account number with the taxpayer.
Form D-40, Individual Income Tax Return only allows direct deposit into
one
financial institution account.Form D-40B, Nonresident Request for Refund allows for separate bank accounts for each spouse when married filing jointly. All nonresident bank deposits are made on a paper-filed return.
To prevent unintended IRA excess contributions, account information doesn't transfer from the federal Screen Bank for an IRA. If you do intend to make an IRA contribution, enter that account information in this screen.
Routing transit number / ... / Type of account
UltraTax/1040-DC automatically uses the primary checking or savings account financial institution information entered in the federal Screen Bank for direct deposit. To select a different account for the transaction, enter the financial institution information in these fields. You need to complete the
Routing transit number
, Depositor account number
, and Type of account
fields.- The IRA account information you transfer from the federal return to the state is ignored. This is to prevent unintentional excess contributions to an IRA.
- Refunds may be deposited to IRA accounts. Enter the account information on this screen.
Non-US financial institution
There are regulations affecting international electronic funds transfers processed though the automated clearing house (ACH) network. A domestic ACH transaction is a direct deposit to or withdrawal from an account in a U.S. financial institution. An international ACH transaction (IAT) is a direct deposit to an account in a U.S. bank that automatically forwards the refund to an account in a foreign financial institution, or a withdrawal from a U.S. bank account that receives the funds for that transaction from a foreign account. The account owner will know when an international transfer account has been established for them. Enter
X
if the account identified is used for an IAT. Because state agencies can't process an IAT, UltraTax CS suppresses the direct deposit or electronic funds withdrawal when you select this field. Diagnostic messages note this suppression. The account information is omitted from forms, client documents, and electronic returns. State agencies tally how many international transactions they need to support in future years, so the return will indicate that you requested an IAT.Taxpayer, spouse, both or neither
This field is available for a nonresident return only. Use this field to designate which bank to use for direct deposit on Form D-40B. If you enter banking information in the federal Screen Bank but you don't enter
T
, S
, B
, or N
, UltraTax CS automatically chooses direct deposit for the District of Columbia using the primary account on both the taxpayer and spouse versions for Form D-40B. Enter N
if you don't want to deposit the state refund directly into the client's account.Secondary Account
Use this section to modify the account information for direct deposit to a second bank. All non-resident bank deposits are made on a paper-filed return. The nonresident D-40B allows for bank accounts for each spouse when married filing jointly.
Routing transit number / ... / Type of account
UltraTax/1040-DC automatically uses the secondary checking or savings account financial institution information entered in the federal Screen Bank for direct deposit. To select a different account for the transaction, enter the financial institution information in these fields. You need to complete the
Routing transit number
, Depositor account number
, and Type of account
fields.- To prevent unintentional excess IRA contributions, IRA account information transferred from the federal return to the state is ignored.
- Refunds may be deposited to IRA accounts. Enter the account information on this screen.
Taxpayer, spouse, both or neither
This field is available for a nonresident return only. Use this field to designate which bank to use for direct deposit on Form D-40B. If banking information is entered in the federal Screen Bank but you don't enter
T
, S
, B
, or N
, UltraTax CS automatically chooses direct deposit for the District of Columbia using the primary account on both the taxpayer and spouse versions for Form D-40B. Enter N
if you don't want to deposit the state refund directly into the client's account.