Filing for an Electronic Refund Disbursement Service (1040)

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Thomson Reuters has partnered with Refund Advantage and EPS Financial to provide Electronic Refund Disbursement Service (DS) and Refund Advance (ADV). You must apply well in advance of tax season. The following steps for completing the application are for users who intend to use the bank products that Refund Advantage offers.

To request a bank product using UltraTax CS, do the following:

  1. In UltraTax CS, specify that you are participating with Refund Advantage or EPS Financial bank products. To complete this one-time setup procedure, choose Setup > 1040 Individual from the main UltraTax CS window, click the Bank Products button, and mark the Use Electronic Refund Disbursement Service checkbox. Enter any applicable fees in the Bank Products dialog. Click OK in the Bank Products dialog and in the 1040 Product Information dialog to save the changes and to enable Screen RAL, which is referenced in step 3.
  2. Enter all tax return information, including all applicable electronic filing information, in Screen ELF in the Electronic Filing folder.
  3. Click the Screen RAL tab and complete all pertinent information in this screen. UltraTax CS uses the information you enter in this screen to complete the application form. Review all diagnostics to make sure that you have completed all required fields. Marking the Type of Electronic Refund Disbursement Service (ERDS) field will generate the electronic application form.
  4. In the Disbursement method field, select 1 Check, 2 Direct deposit, 3 Prepaid debit card, or 4 Pre-existing FasterMoney prepaid card to specify the method by which a refund will be disbursed to the taxpayer(s).
  5. If you selected 2 Direct deposit in step 4, click the Bank tab in the General folder and enter the taxpayer's bank information in the Part I - Direct Deposit/Electronic Funds Withdrawal Information section. You must complete all of the primary account fields. UltraTax CS transfers that information to the bank application electronic file and paper form.
  6. Create the electronic file. The electronic bank application is also created during this process.
  7. Transmit the electronic return using CS Connect. Upon receipt of an accepted acknowledgment from the IRS, Thomson Reuters will forward the pertinent information to Refund Advantage or EPS Financial. Any additional information concerning the bank product should be directed to Refund Advantage or EPS Financial. They are responsible for any questions regarding the loan application and loan process.

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