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Electronic Tax Payments

If you are currently making your federal payroll tax deposits by taking them directly to an authorized bank with a paper coupon, you should know that method will no longer be allowed as of January 1, 2011. Rules that permit federal tax deposits with paper coupons are being eliminated, and the Treasury Department is ceasing to maintain the coupon system. (Proposed Regulation 153340-09)

Digit Payroll offers an easy solution to the new mandated electronic payment regulation. Digit tax service automatically enrolls the company with EFTPS, makes all federal and state payroll tax payments for the client and files all payroll tax returns. Guaranteed to be accurate and timely.

If you choose to make online deposits, you must enroll in the Electronic Federal Tax Payment System (EFTPS).

It's all part of the federal government's initiative to increase the number of electronic transactions made by taxpayers. The IRS states that the paper coupon system that allows payments at 8,000 authorized financial institutions "dates back to World War I." Eliminating paper coupons is estimated to save at least $65 million over the first five years.


Information on EFTPS, including how to enroll, can be found at www.eftps.gov or by calling EFTPS Customer Service at 1-800-555-4477.