If you are a business owner who makes monthly payroll deposits to the IRS, you have probably received a letter (or soon will) stating that manual tax deposits will no longer be accepted. As of January 1, 2011 Federal Tax Deposit Form 8109 will no longer be used and instead all federal tax payments will have to be made electronically via EFTPS (Electronic Federal Tax Payment System).

The EFTPS is very easy to use and will actually make your life a bit easier in that it will mean one less trip to the bank. That said, there is some work that needs to be done to register for an EFTPS account and registration can take several weeks to complete (one of the steps involves the IRS mailing you a PIN via the US Postal Service and we all know how busy they are this time of year).

Visit www.eftps.gov/eftps/ to begin the registration process and if you have any questions, please give us a call.