IRS DELAYS EFTPS
The IRS's program to facilitate electronic payment of employment taxes, the Electronic Federal Tax Payment System (EFTPS), was originally scheduled to roll out nearly two years ago. Congress forced a delay in the Taxpayer Relief Act of 1997 by forbidding the IRS to assess penalties on companies who failed to meet the IRS deadline before July 1, 1998. Now the IRS itself has announced another delay, this time to July 1, 1999.
"We are offering further penalty relief as we work to increase participation in this electronic payment program," said Commissioner Charles O. Rossotti, stating that the IRS was still committed to the program. At this stage, there are 2 million taxpayers paying a total of $1.6 billion in taxes electronically. *
January 1999 Issue
| The CPA Journal is broadly recognized as an outstanding, technical-referred publication aimed at public practitioners, management, educators, and otheraccounting professionals. It is edited by CPAs for CPAs. Our goal is to provide CPAs and other accounting professionals with the information and news to enable them to be successful accountants, managers, and executives in today's practice environments. | |
|
|
|
|
©2006 The CPA Journal. Legal Notices |
|
Visit the new cpajournal.com.