The IRS has proposed new regulations that would require all companies to use Electronic Federal Tax Payment System (EFTPS) regardless of the size of their annual tax liabilities. The proposed regulations are expected to be finalized by the end of 2010. If your company is not already enrolled for EFTPS, it would be a good idea to start the enrollment process. The EFTPS process if very easy to use as long as you are aware of payment deadlines. This should save time related to travel to the bank and for trying to locate tax payments not picked up by the IRS.

For more information and to enroll visit https://www.eftps.gov/eftps/ or contact Sarah Hancock or Leisha Gardner at 972-644-7112.