Client Alert Spring 97 - NEW EFT FILING REQUIREMENTS

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Client Alert - Spring 1997

NEW EFT FILING REQUIREMENTS
by: Bob Dobie

If your business made federal tax deposits of more than $50,000 in 1995, the new deadline for making your deposits by electronic funds transfer is July 1, 1997. A company with $50,000 in federal tax deposits in 1996 is required to make deposits by electronic funds transfer beginning January 1, 1998. The enrollment process takes up to ten weeks to complete before funds can be transferred electronically. If you need assistance with your enrollment, or have any questions, contract our office. You may be subject to penalties if you are not enrolled in time.

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