Electronic Federal Tax Deposits Now Mandatory

If you're a small business owner who makes federal tax deposits with paper coupons at the bank, you should know that starting Jan. 1, 2011, paper coupons will no longer be accepted by the IRS or by banks. You must make your deposits through the EFTPS (either online or by telephone). Payments can be made 24/7 and can be scheduled in advance. For more information, click here.