Skip to main content

Legal

Tax & Accounting

Trade & Supply

Risk & Fraud

News & Media

Books

Developers

Screens

Screen LABank - Louisiana Direct Deposit and Electronic Funds Withdrawal (1040)

Overview

Use this screen to enter direct deposit and electronic funds withdrawal information for the tax return and extension. Direct deposit is available when filing electronically or on paper. Electronic funds withdrawal for the return is available only when filing electronically. A balance due extension filed electronically will need to include an electronic funds withdrawal unless the taxpayer arranges for payment by credit card.

Direct Deposit and Electronic Funds Withdrawal

Use this section to indicate the Louisiana option for direct deposit and electronic funds withdrawal (direct debit). Form LA-8453 shows details of the requested deposit. Form LA-8453 shows the details of requested withdrawal. Direct deposit is available when filing electronically or on paper. Electronic funds withdrawal for the return is available only when filing electronically.
UltraTax CS automatically selects direct deposit for the Louisiana return refund when financial institution information has been entered in the federal
Bank
 screen. Enter
X
 if you don't want to deposit the state refund directly in the client's account.
Use this field to have the client's refund, minus the fees, deposited with Refund Advantage / EPS Financial. This field is available only when filing electronically and a bank product is selected in the federal
RAL
 screen.
Use this field to indicate that the tax due will be paid by credit card. UltraTax CS marks the checkbox on Form LA8453 and includes instructions for arranging payment by credit card in the filing instructions.
Use this field to request an electronic withdrawal of funds for a balance due return. If this field isn't enabled, no withdrawal will occur.
If filing on or before the original due date, the date of withdrawal defaults to the original due date. Use this field to request an earlier withdrawal date. If filing after the original due date, enter the anticipated filing date of the return.
The amount of withdrawal defaults to the total amount due with the return. Use this field to request a different amount.

Account Information

The primary account information entered in the federal
Bank
 screen transfers automatically. A different account may be entered for the Louisiana return. It's recommended that the routing transit number and account number be verified annually with the taxpayer.
Data entry in this field is required in order to consider the account information complete for UltraTax/1040 processing. If this field is left blank, the account won't be used. The routing transit number will need to be nine digits with the first two digits within the range of 01-12 or 21-32.
This field is used in filing instructions and forms to help identify the account.
Data entry in this field is required in order to consider the account information complete for UltraTax/1040 processing. If this field is left blank, the account won't be used. The account number may include digits and letters. Omit spaces, hyphens, and other special characters.
Data entry in this field is required in order to consider the account information complete for UltraTax/1040 processing. If this field is left blank, the account won't be used. Select the type of account from the dropdown list.
There are regulations affecting international electronic funds transfers processed though the automated clearing house (ACH) network. A domestic ACH transaction is a direct deposit to or withdrawal from an account in a U.S. financial institution. An international ACH transaction (IAT) is a direct deposit to an account in a U.S. bank that automatically forwards the refund to an account in a foreign financial institution, or a withdrawal from a U.S. bank account that receives the funds for that transaction from a foreign account. The account owner will know when an international transfer account has been established for them.
Enter
X
 if the account identified is used for an IAT. Because state agencies can't process an IAT, UltraTax CS suppresses the direct deposit or electronic funds withdrawal when this field is marked. This suppression is noted in the diagnostic messages and the account information is omitted from forms, client documents, and electronic returns. State agencies are tallying how many international transactions they'll need to support in future years so the return will indicate that an IAT was requested.
Chat now

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close