Tax & Accounting Blog

UltraTax CS: How to Enable Electronic Funds Withdrawal in Form 1040 Returns and Extensions

CS Tax & Asset Management Solutions March 27, 2014

Enable electronic funds withdrawal for balance due clients by following the procedures below. 

Note: The procedures below must be followed within a return prior to creating its e-file.  

For 1040 Individual Extensions:

  1. In Screen 1040, located in the General folder, enter a daytime telephone number.
  2. In Screen ELF, located in the Electronic Filing folder, enter the date the taxpayer wants to have the amount debited from the bank account in the Electronic funds withdrawal for extensions requested payment date field. Note that this date must not be earlier than the transmission date of the extension to the IRS, but can be as late as April 15.
  3. In Screen PIN, located in the Electronic Filing folder, enter an ERO PIN.
  4. Enter a Signature date  as well as the Taxpayer PIN  (and Spouse PIN, if applicable) in the Form 4868/2350 Extension PIN Information  section on Screen PIN. If the taxpayer(s) are not entering their own pins, choose the appropriate option from the PIN authorization indicator  drop-down field.
    Note: You may use either the Practitioner PIN or the Self-Select PIN for an electronic Form 4868 extension with electronic funds withdrawal. When using the IRS’ Self-Select method for e-filing, you must also provide either the client’s prior year AGI or prior year PIN(s) in the Personal Identification Number (PIN) Information  section. 
  5. In Screen Bank, located in the General folder, enter the bank account information in the Direct Deposit/Electronic Funds Withdrawal section. 

For 1040 Individual Returns:

  1. In Screen 1040, located in the General folder, enter a daytime telephone number.
  2. In Screen ELF, located under the Electronic Filing folder, enter the date the taxpayer wants to have the amount debited from the bank account in the Electronic funds withdrawal for balance due returns: Requested Payment Date  field.
    Note: Enter X in the Use requested payment date of 4/15/14 field and UltraTax CS will automatically enter 4/15/14 as the requested payment date.
  3. In Screen PIN, located under the Electronic Filing folder, complete the appropriate data in the Personal Identification Number (PIN) information  section.
    Notes: You may use either the Practitioner PIN or the Self-Select PIN for an electronic Form 1040 return. When using the IRS’ Self-Select method for e-filing, you must also provide either the client’s prior year AGI or prior year PIN(s) in the Personal Identification Number (PIN) Information section.
  4. In Screen Bank, located under the Generalfolder, enter the bank account information in the Direct Deposit/Electronic Funds Withdrawal section. 

More Info?
Refer to the following articles from our Help & How-To Center for related info on this topic.