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Screen MOKCBank - Kansas City Wage Direct Deposit, Elect Funds Withdrawal (1040)

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Direct Deposit and Electronic Funds Withdrawal

Suppress direct deposit of Kansas City refund
UltraTax CS automatically selects direct deposit for the Kansas City Wage Earner Return refund when you enter financial institution information. Enter
X
 if you don't want to deposit the refund directly in the client's account.
Enable electronic funds withdrawal for a balance due return (Electronically filed returns only)
Use this field to request an electronic funds withdrawal for a balance due return. If you don't enable this field, no withdrawal occurs.
Date of withdrawal (If other than due date of the return)
When you file on or before the original return due date, the requested withdrawal date defaults to the original due date. Use this field to enter a requested withdrawal date that's different from the original due date.
When you file on or before the original return due date, the taxing authority can't initiate a funds transfer prior to the requested withdrawal date. The actual funds transfer may occur on or after the requested date. Delays of several days aren't uncommon.
When you file after the original due date, enter the date you actually transmit the electronic file. The taxing authority will initiate a withdrawal when the return  completes processing.

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 you file the extension electronically.
Enable electronic funds withdrawal for extension payment
Use this field to request an electronic funds withdrawal for a balance due extension. If you don't enable this field, no withdrawal occurs.
Date of withdrawal
Enter a withdrawal date on or before the default extension due date.
The actual funds transfer will occur on or after the due date you request.
note
Enter the extension payment amount in the KCGen screen in the
Balance due on extension (Force)
 field.

Account Information

Use this section to modify the account information for direct deposit or electronic funds withdrawal.
Name of financial institution / ... / Type of account
The primary account information you enter in the federal Bank screen transfers automatically. You can enter a different account for the Kansas City return. It's recommended that you verify the routing transit number and account number annually with the taxpayer.
To prevent unintended excess IRA contributions, IRA account information doesn't transfer from the federal Bank screen. If a deposit to an IRA is intentional, enter the account information in this screen. You can't select An IRA for electronic funds withdrawal.
Non-US financial institution (International ACH transaction)
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 specified is used for an IAT. Because state and local agencies can't process an IAT, UltraTax CS suppresses direct deposit when you select this field. This suppression is noted in the diagnostic messages and the account information is omitted from forms and client documents.

This article applies to:

  • PRODUCT: UltraTax CS
  • Return type: 1040 Individual
  • State: Missouri

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