Did you know the IRS is eliminating paper-based federal payroll tax coupons on January 1? The IRS notified small business employers over the summer and the implementation date is fast approaching.
Instead, starting January 1, businesses will be required to make federal tax payments using the Federal Tax Payment System (EFTPS). Employers with quarterly tax liabilities under $2,500 are off the hook and can continue to pay via check with their quarterly return.
More details are available from the IRS.
Note for Intuit Customers: Intuit Payroll helps you click to pay your taxes electronically at no additional charge. For a limited time, Intuit is offering new payroll subscribers 30 days of free service to help efficiently get started with payroll and electronic payroll tax payments in 2011.