Tax Year 2020 Colorado 1040 Returns and Extensions Direct Debit Date Defaulting to April 15, 2021
- Article Type:
- Documentation
- Last Modified:
- 06/20/2023
Objectives
An issue has been discovered in the Colorado 1040 electronic file, for returns and extensions, relating to direct debit of the balance due. The default direct debit date is April 15, 2021. All indicators in the return, such as letters, filing instructions, diagnostics, and reports, indicate the debit will occur on May 17, 2021, but the electronic file and Status System will use April 15, 2021.
To avoid using the default direct debit date, you will need to key in a specific date using the instructions below.
If you have already submitted the return, you will need to discuss payment options directly with the State of Colorado Department of Revenue at (303) 238-7378 before the payment is processed on April 15, 2021
To avoid using the default direct debit date, you will need to key in a specific date using the instructions below.
If you have already submitted the return, you will need to discuss payment options directly with the State of Colorado Department of Revenue at (303) 238-7378 before the payment is processed on April 15, 2021
Environment
- 1040
- Colorado
- CCH Axcess
- CCH ProSystem fx Tax
- Electronic Filing
- efiling
Details
The default direct debit date is April 15, 2021. To avoid using the default direct debit date, you will need to key in a specific date in on General > Basic Data > Direct Deposit/Electronic Funds Withdrawal > Withdrawal Date (Interview Form BNK-1, Box 43).
Important Notes:
If your firm's returns are already filed and contain direct debit for Colorado 1040 returns, please contact the Colorado Department of Revenue at (303) 238-7378 to discuss what options you may have for them before the payment is processed on April 15.
In the meantime, the best practice for returns not yet submitted is to use the input mentioned and key in the date you want the payment to occur, or to pay the balance due by check using Form 0900 or Form DR 0158-I for extensions.
Important Notes:
- For returns filed between 3/28/2021 and 4/15/2021 = Amounts due will be deducted from the taxpayer account on 4/15/2021 unless a different date is specified
- For returns filed 4/16/2021 – 4/17/2021 = Amounts due will likely be deducted the same day unless there is a different date specified
- For returns filed on or after 4/18/2021 = The return needs to be recalculated and exported on the new release and then subsequently efiled. Amounts due will be deducted on 5/17/2021 unless there is a different date specified.
- After 4/18/2021, any return not calculated and uploaded on or after this release will be stopped by CCH. These returns will need to be calculated on the latest release and re-uploaded
If your firm's returns are already filed and contain direct debit for Colorado 1040 returns, please contact the Colorado Department of Revenue at (303) 238-7378 to discuss what options you may have for them before the payment is processed on April 15.
In the meantime, the best practice for returns not yet submitted is to use the input mentioned and key in the date you want the payment to occur, or to pay the balance due by check using Form 0900 or Form DR 0158-I for extensions.
Additional Information
N/A
| Solution Id | 000219631/Tax-Year-2020-Colorado-1040-Returns-and-Extensions-Direct-Debit-Date-Defaulting-to-April-15-2021 |
|---|---|
| Direct Link |
