Entering EFW data for estimated tax payments (return or extension) (1040)

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MFA required for electronic filing

Effective May 3rd, the 2017 version of UltraTax CS requires multi-factor authentication (MFA) to access the electronic filing transmission feature in CS Connect.

Thomson Reuters is committed to proactively evolving our security features to help you protect your firm and your clients' data. For more information about multi-factor authentication, see Multi-factor authentication overview.

Electronic filers can designate an electronic funds withdrawal (EFW) on their designated bank account for one or more estimated tax payments to be filed with either the electronic return or the electronic extension.

Note: The IRS accepts EFW payment information only when submitted with an electronically filed tax return or extension. If the bank account or estimate amounts change, you must cancel the payment and choose another payment method. For information about canceling the payment, see the Cancellation, Errors and Questions section of the Pay Taxes by Electronic Funds Withdrawal page.

To enter EFW information for estimated payments, complete the following steps.

  1. Open the client's return.
  2. Open Screen ELF in the Electronic Filing folder.
  3. Enter 1 (Return) or 2 (Extension) in the appropriate Electronic funds withdrawal for estimated tax by quarter field to have the estimates withdrawn for that quarter.
  4. For extensions: Enter a withdrawal date in the Electronic funds withdrawal for extensions requested payment date field in the Extension Information section.
  5. Open Screen 1040 in the General folder.
  6. Enter a daytime telephone number in the Daytime telephone / ext number field.
  7. Click the Bank tab to open Screen Bank.
  8. Complete the primary bank account information in the Direct Deposit / Electronic Funds Withdrawal section.
  9. Create the return or extension.

Notes

  • Extensions: After you create the electronically filed extension that includes an electronic funds withdrawal of estimated tax payments, UltraTax CS updates the amounts in the Calculated amounts field in Screen ELF. Enter X in the Treat code 2 calculated amounts as paid, and transfer to Screen Est, 2018 Estimates paid field(s) checkbox to have the Estimated Tax Payments Worksheet reflect the paid amounts when you later process the estimates with the tax return.
  • After the April 20th perfection period, you can no longer file first quarter estimates. Refer to the 1040 Modernized e-File (MeF) program business rules for more information about the dates that apply to estimate payments.

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