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|Articles|November 19, 2010

Electronic filing required for payroll tax withholding

Understand whether you can deposit payroll tax withholding monthly for employees using federal tax coupons.

A: After calendar year 2010, essentially all businesses must electronically wire deposits to the Internal Revenue Service, including payroll taxes and corporate income taxes. Only businesses that remit less than $2,500 in each calendar quarter are exempt from electronic filing. You can find more detailed information at http://www.eftps.gov.

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