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I. Pre Start-up/Assessing Your Business Idea II. Starting Your Business/Keeping Records III. Guidance for Special Types of Businesses IV. Hiring Employees V. Preparing Your Tax Return(s) and Information Returns VI. Filing Your Returns and Paying Taxes - Including Electronic Options VII. Post-Filing Issues VIII. Other Tax Issues of Interest IX. Index of Business Forms and Publications Including: Highlights of the New Tax Law Changes X. Changing Your Business or Getting Out of Business XI. Alerts and Tutorials XII. Directory of Internet and Other Resources
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Belgium HotelsFiling Your Returns and Paying Taxes
hotels MalmoElectronic Options for filing Business Returns and Paying Taxes
Paying Taxes Electronically/Electronic Federal Tax Deposit System

New Electronic Deposit Requirements

Beginning January 1, 2000, the following changes have been made tothe electronic deposit requirement:

  • The threshold that determines whether you must use the Electronic Federal Tax Deposit System (EFTPS) has been increased from $50,000 to $200,000.
  • All Federal tax deposits (such as deposits for employment tax, excise tax, and corporate income tax) made during a calendar year are combined to determine whether you exceed the $200,000 threshold. If the total of your Federal tax deposits made in 1998 exceeded $200,000, you must use EFTPS beginning January 1, 2000.
  • Participation in EFTPS is voluntary if your deposits do not exceed the new $200,000 threshold, even if you were required to electronically deposit under the previous $50,000 threshold. However, businesses that exceed the new $200,000 threshold must continue to use EFTPS in all later years.
  • ERROR MSGThe waiver of penalty for failure to use EFTPS, scheduled to expire on July 1, 1999 has been extended to January 1, 2000, for taxpayers whose total Federal tax deposits in1998 did not exceed the new $200,000 threshold. However, taxpayers will remain liable for penalties if a deposit in not made in the required manner.

luxury hotels in TolouseFor more information on EFTPS, see section 11, Depositing Taxes

Important References:

Publication 966EFTPS Electronic Federal Tax Payment System

Web Link:

www.irs.ustreas.gov/prod/elec_svs/eftps.html

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