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Electronic filing required for payroll tax withholding

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

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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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