Have you been using Tax Deposit Coupons – Form 8109?

The Bad News is that the IRS is requiring businesses that could previously make Federal Tax Deposits by coupon to now use other methods.

The Good News – for those that find the web based and other systems too complicated and time consuming – is that you can make your deposits by telephone.

The phone number for the EFTPS is: 1-800-555-4477.

Here is what the IRS says:

To use the voice response system: You must be enrolled in EFTPS.

If you recently were pre-enrolled in EFTPS and cannot find your PIN, call 888.434.7338.

Payments must be scheduled by 8 p.m. ET the day before the due date to be received timely.

In another announcement the IRS says:

Small Businesses To Use EFTPS for Deposits Beginning in 2011

The paper coupon system for Federal Tax Deposits will no longer be maintained by the Treasury Department after Dec. 31, 2010. Most businesses must now make deposits and pay federal taxes through the Electronic Federal Tax Payment System (EFTPS).

Using EFTPS to make federal tax deposits provides substantial benefits to both taxpayers and the government. EFTPS users can make tax payments 24 hours a day, seven days a week from home or the office.

Deposits can be made online with a computer or by telephone. EFTPS also significantly reduces payment-related errors that could result in a penalty. The system helps taxpayers schedule dates to make payments even when they are out of town or on vacation when a payment is due. EFTPS business users can schedule payments up to 120 days in advance of the desired payment date.

Information on EFTPS, including how to enroll, can be found on line or by calling EFTPS Customer Service at 1-800-555-4477.

Some businesses paying a minimal amount of tax may make their payments with the related tax return, instead of using EFTPS. More details regarding taxes required to be deposited using EFTPS, dollar thresholds and other specific requirements are described on page 2 of IRS Publication 15, (Circular E) Employer’s Tax Guide.

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