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IRS to Quit Accepting Paper Tax Deposits
– August 5, 2010
Beginning in January 2011, most taxpayers who have been using paper Federal Tax Deposit coupons and taking a check to the bank will be required to make their tax deposits electronically.
The payments must be made over the internet or by phone. Some small employers, generally businesses with $2,500 or less in quarterly tax liabilities, may be exempt from the new requirement and be able to continue using the coupons. However, many banks will no longer accept these payments, so it will be necessary for these exempt businesses to file electronically.
To register for electronic payment, go to www.eftps.com.
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