Paying estimated tax payments for Form 1040-ES via EFW (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 transmit e-files from CS Connect. Find out more.

To designate estimated tax payments from Form 1040-ES for next year to be automatically debited from a client's bank account on their electronically filed return, do the following:

The IRS allows you to designate one or more estimated tax payments to be withdrawn through an Electronic Funds Withdrawal (EFW) when you electronically file a return or extension.

  1. Open the 1040 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or 2 (Extension) in the appropriate Electronic funds withdrawal for estimated tax field for each quarter estimate to be withdrawn.
  4. Open Screen 1040 in the General folder.
  5. Enter the Daytime telephone/ext number under Taxpayer Information. 
  6. Open Screen Bank in the General folder.
  7. Enter the primary bank account information in the Direct Deposit/Electronic Funds Withdrawal Information section.
  8. Review and correct all Critical and ELF Critical diagnostic messages. To do so, press CTRL+D.

Notes

  • The IRS will withdraw the funds on the designated due dates for the estimated tax payments selected.
  • Designate EFW only for quarters with estimates due (to prevent an ELF Critical diagnostic message and an E-File Error Report error).

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