The use of the IRS’s electronic payment system would be expanded, and paper coupons for federal tax deposits would be discontinued, under proposed regulations recently issued by the IRS.
For a Limited Time receive a
FREE Compensation Market Analysis Report! Find out how much you should be paying to attract and retain the best applicants and employees, with
customized information for your industry, location, and job.
Get Your Report Now!The guidance specifies that the rules for making federal tax deposits by paper coupon would be eliminated, because the Treasury plans to stop maintaining the paper coupon system after December 31, 2010.
Meanwhile, existing rules for depositing federal taxes through the Electronic Federal Tax Payment System (EFTPS) would generally be maintained.