Electronic funds withdrawal
For electronically filed returns, extensions, and estimates, certain state taxing agencies allow taxpayers to pay balances due via electronic funds withdrawal (EFW).
If a state allows electronic filing for extensions or estimates, they generally allow electronic funds withdrawal requests.
Data entry
To ensure the debit of an electronic funds withdrawal request is successful, you'll need to enter the following:
- In the federalElectronic Filingfolder, select theELFtab and enterXin theFile the return electronicallyfield.
- In the federalGeneralfolder, enter the telephone number for the return as follows:
- For an 1120, use theClient phone number fieldin the 1120 and 1120S Information section.
- For a 1065, use theTelephone numberfield in the Partnership Information section.
- In the federalGeneralfolder, select theBanktab and enter the bank information.importantUltraTax CS considers the bank information you enter in the federal input screens as the primary account and will use that information for all returns attached to the client. If you don’t want to enter bank information for the federal return, or you want to enter different bank information for the state, use theBankscreen in the state input screens in the next step.
- In theGeneralfolder of the state input screens, select theBanktab and make sure the bank information is correct.
- For returns and extensions:
- Returns and extensions:
- If you would like the date of withdrawal to happen before the due date of the return, specify a date in theRequested payment datefield of the ELF screen in the state Electronic Filing folder prior to the due date.
- If you are filing a return after the original deadline, the date you enter can't be after the date you transmit the return to the agency.
- Estimates:
- For each quarter that you authorize EFW, UltraTax CS enters the standard due date for the state. You can adjust the dates for electronic withdrawal in theRequested withdrawal datefields.
noteFor an electronic funds withdrawal payment, use theRequested payment datefield.- While the taxing agency won’t withdraw the payment before the requested date, they may withdraw it after. Regardless of the date the state actually processes the payment, they’ll consider it timely if you request the withdrawal date and submit the e-file on or before the due date.
- The state return won’t default to electronically withdraw payments if an EFW request is present on the federal return.
- Some states allow you to force the amount to be paid with EFW. If you force an amount to be debited, it can't exceed the balance due as shown on the return. An amount that exceeds the balance due will be rendered invalid and won’t be included in the electronic file.
- State taxing agencies can't process international ACH transactions (IAT). If you indicate the return is a Non-US Financial Institution on theBankscreen, UltraTax CS suppresses the direct deposit or electronic funds withdrawal.
