Electronically filing 1120 estimates

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You can file 1120 estimates only with the corporate return. Follow the steps below to create the tax return electronic file if estimates are to be paid by Electronic Funds Withdrawal (EFW).

  1. Open Screen ELF in the Electronic Filing Folder.
  2. Mark the Electronic funds withdrawal for Form 1120-W estimated payments checkbox.
  3. Open Screen Bank in the General folder, and enter the client's bank account information.
  4. Choose View > Diagnostics to review all diagnostic messages in the Federal Diagnostics window. Click any item displayed in the window to open the corresponding screen to address the diagnostic message. Verify that you have cleared all Critical and ELF Critical diagnostic messages and have reviewed the FYI diagnostic messages, and then close the Federal Diagnostics window.
  5. Choose File > Print Returns.
  6. Mark the Government copy and the Create electronic file checkboxes.
  7. Print the return to generate the electronic file either to a printer or to FileCabinet CS.
  8. Follow the normal procedures to transmit the electronic returns using CS Connect. In CS Connect, you will have one file that includes the tax return and all estimate payments.

Notes

  • If you are filing a return after the due date of the estimated tax payments, you must make the estimated payments through the Electronic Federal Tax Payment System (EFTPS). Clear the Electronic funds withdrawal for Form 1120-W estimated payments field in Screen ELF in the Electronic Filing folder. Then, select the appropriate EFT option in the Estimate filing instruction field in Screen Letter in the General folder.
  • The IRS requires estimates to be withdrawn on the 15th of the month (adjusted for weekends and holidays); therefore, withdrawal date fields are not available.
  • Estimates cannot be e-filed separately or with extensions; they must be e-filed with the return.

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