Today TaxMama® hears from Donna in the TaxQuips Forum with this running argument. “Our debate concerns a client whose payroll taxes for the current and previous quarters well exceeded $2,500. The client is a monthly depositor and did not make a timely deposit for the last month in the quarter. The deposit amount due for […]
Category Archives: EFTPS
Today TaxMama hears from Matt in the Tax Quips Forum, who has the right idea. “I have started a side business doing yard work. I am trying to determine the best way to save to pay my taxes. I have a checking account that is just for the side business. I deposit all the money […]
Today TaxMama hears from Midge in the TaxQuips Forum. Midge is upset because she and her husband sent IRS 4 post-dated checks for last year’s taxes with 2010 on the memo line. Not only did IRS cash them all at once, but they applied the payments to 2010, instead of 2009. Now, Midge says, they […]
[TaxMama Note: Contratulations to the U.S. Treasury and IRS ! This is significant for two reasons. 1) People have really taken to using the EFTPS system. 2) This is going to be our primary payments option as of next year – so get familiar with it! ] WASHINGTON—On August 27, the Department of the Treasury processed […]
Proposed Regulations Expand the Use of Electronic Payment System and Discontinue Paper Coupons Next Year WASHINGTON — Consistent with a Financial Management Service initiative announced in April of this year, the IRS today issued proposed regulations to significantly increase the number of electronic transactions between taxpayers and the federal government. The proposed regulations (REG 153340-09) […]