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Electronic funds withdrawal (EFW) with an extension

The following information is required for an electronic funds withdrawal (EFW) with an extension.

Calculate extension

  1. Go to the
    Ext
     screen in the
    Payments
     folder.
  2. Enter a code in the
    Calculate extension
     field.
  3. UltraTax CS calculates the total tax liability and balance due on extension based on the information entered in the return so far. If you don't want to complete the data entry for the client until later, you can manually enter the total tax liability in the
    Estimate of total tax liability (Force)
     field and the amount you want to pay with the extension in the
    Balance due on extension (Force)
     field.

Enter a daytime telephone number

Go to the
Gen
 screen in the
General
 folder and complete the
Daytime telephone/ext number
 in the
Taxpayer information
 section.

Complete bank information

  1. Go to the
    Bank
     screen in the
    General
     folder and enter the bank information. If the fields aren't available, delete the code in the
    Taxpayer verified all bank info by
     field.
  2. Have the taxpayer verify their bank information and enter the code for the verification method. The IRS Security Summit requires the taxpayer to confirm the bank information every year in writing and that you retain the confirmation for your records. You can use the
    Bank Account Verification
     worksheet in UltraTax CS to do this. First verify that the worksheet is set to print. You can send this to your client using the organizer, eSignature, by email, or on paper.
note
You can't use multiple bank accounts for EFW.

Request a payment date

You're required to specify a date for the payment to be withdrawn. While the IRS won't withdraw the payment before the requested date, they may withdraw it after.
  1. Go to the
    ELF
     screen in the
    Electronic Filing
     folder.
  2. In the
    Extension information
     section, enter the withdrawal date you want in the
    Electronic funds withdrawal for extensions requested payment date
     field.

Enter e-filing information

Electronic funds withdrawal is only available if you're electronically filing the extension.
  1. Go to the
    ELF
     screen in the
    Electronic Filing
     folder and use the
    File extension electronically
     dropdown list to select the extension form you're using.
  2. Before you transmit the extension to the IRS, go to
    View
    , then
    Diagnostics
    , then the
    ELF Critical
     tab and clear all
    ELF Critical
     diagnostics. If you want to verify that your EFW request is correct before you transmit the return, you need to either clear all
    ELF Critical
     diagnostics, or go to
    Setup
    ,
    1040 Individual
    ,
    Federal
     tab,
    Other Return Options
     button,
    Client Documents
     tab, then select
    Print e-file filing instructions even when e-file critical diagnostics exist
    .

This article applies to:

  • Product: UltraTax CS
  • Return type: 1040 Individual

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