IL partnership estimated electronic payments

[Tom]

when you select the estimated tax payments to be made electronically does that mean the total estimated tax payment will be deducted from the taxpayers account at the time of e-filed due date or will they be taken out on the quarterly estimated tax payment due dates. 

this is the first time for me using this function and it is not clear on timing of those payments for the client.  this is for IL partnership entity return that they require them electronically if over $20K.

[Karl]

If you're talking about Screen 37.031 Code 43, no auto-debits will happen.  That field means the Client Letter will give directs for e-payment instead of generating vouchers to mail.

Screen 3 Code 941 will push for auto-debit of estimates on the schedule due dates.

The Client Letter will be your guide as to when money will or won't move.  It auto-changes based on the various options you select.

[Tom]

Perfect.  Exactly what I was looking for and confirmed my thoughts.  Had an issue like this a long time ago when tax software was coming out and left a client with a huge overpayment that caused problems.  Thanks