IRS to discontinue use of tax deposit coupons effective January 1, 2011

Starting January 1, 2011 taxpayers will no longer be able to make federal tax payments using tax deposit coupons (form 8109-B). Taxpayers will be required to pay federal taxes using EFTPS (Electronic Federal Tax Payment System). Options for making payments through EFTPS include using their website at www.eftps.gov if you have internet access and are comfortable paying online or using the voice response system via telephone. Either option requires enrollment in EFTPS.

If you are required to register and have not already done so, please go to the website at www.eftps.gov, click on the enrollment box near the bottom of the screen and follow the prompts. Please be advised that you will need to provide your bank account routing and account numbers from the account from which you want the payments to be debited. Alternatively, if you prefer to register by telephone you can do so by calling EFTPS at 888-434-7338.

If you file form 941 and your liability is less than the current threshold amount of $2,500, you may still send a payment to the IRS with the form.
After registering, you will receive a PIN in the mail within 7 business days. The PIN is required to access the EFTPS system. Make sure to register in sufficient time to make your first payment.
Payments made using the EFTPS system must be scheduled by 8 p.m. ET the day before the due date to be received timely. Be sure to schedule your payments accordingly. In other words, if your 941 deposit is due on the 15th of the month, make sure to schedule it by 8 p.m. ET on the 14th.
For general EFTPS Customer Service assistance, call 800-555-4477.

Posted: December 2010

Bassman, Laserow & Company, PC
350 Sentry Parkway East
Building 630, Suite 200
Blue Bell, PA 19422
voice: 215-628-0420
fax: 215-628-3461
email: Bassman, Laserow
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