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EFTS |
Also found in: Financial, Encyclopedia | 0.01 sec. |
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Beginning July 1, 1997, employers whose 1995 employment tax deposit equaled or exceeded $50,000 must enroll in the Electronic Federal Tax Payment System (EFTPS), an electronic funds transfer system which replaces the existing paper coupon system. 1, 1977 to July 1, 1997) by which the IRS was required to implement the 1997 phase of the electronic funds transfer system. The IRS supports the electronic funds transfer system because it makes payments more timely and efficient. |
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