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electronic funds transfer system

   Also found in: Financial, Acronyms 0.02 sec.
electronic funds transfer system - electronic funds transfer


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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.
Pay taxes electronically or face being hit with fines by Wayne, Larry / Los Angeles Business Journal
1, 1977 to July 1, 1997) by which the IRS was required to implement the 1997 phase of the electronic funds transfer system.
EFTPS is here by Pflieger, Deborah J. / The Tax Adviser
The IRS supports the electronic funds transfer system because it makes payments more timely and efficient.
Many companies must file tax returns electronically by 1997 by Journal of Accountancy
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