New Tax Deposit Requirements Beginning January 1, 2011, the U.S. Treasury issued new rules for businesses that make federal tax deposits.  The new rules require businesses that pay more than $2500.00 in Federal Payroll Tax Deposits, to pay electronically.  If the taxes are not paid electronically, there will be a 10% penalty assessed.  If the Federal Payroll Tax Deposit is less than the $2500.00, then you can still pay with the return with no penalty.  The IRS has discontinued using the federal deposit coupon, form 8109-B.  Also, banking institutions have already stopped processing the tax payments. To make sure you are in compliance, contact our office to help setup the electronic payments.  If you desire, you can go to www.eftps.gov to setup your electronic payment account. Please call us to discuss these new tax laws.  The information contained is general in nature and should not be acted upon in your specific situation without further details and professional consultation.  Check our Website Disclaimer  Policy if you have questions.