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previous page Previous Page: Publication 510 - Excise Taxes - Filing Form 720
next page Next Page: Publication 510 - Excise Taxes - When To Make Deposits
 Use previous pagenext page to find additional occurrences of topic items.Index for this Publication
taxmap/pubs/p510-050.htm#en_us_publink1000117330

Chapter 11
Payment of Taxes(p41)

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previous topic occurrence Payment of Tax next topic occurrence

Generally, semimonthly deposits of excise taxes are required. A semimonthly period is the first 15 days of a month (the first semimonthly period) or the 16th through the last day of a month (the second semimonthly period).
However, no deposit is required for the situations listed below; the taxes are payable with Form 720.
taxmap/pubs/p510-050.htm#en_us_publink1000117331

How To Make Deposits(p41)


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How To Make Deposits

To avoid a penalty, make your deposits timely and do not mail your deposits directly to the IRS. Records of your deposits will be sent to the IRS for crediting to your accounts.
taxmap/pubs/p510-050.htm#en_us_publink1000117332

Electronic deposit requirement.(p41)


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You must make electronic deposits of all depository taxes (such as deposits for employment tax, excise tax, and corporate income tax) using the Electronic Federal Tax Payment System (EFTPS) in 2009 if:
If you are required to use EFTPS and use Form 8109, Federal Tax Deposit Coupon, instead, you may be subject to a 10% penalty. If you are not required to use EFTPS, you may participate voluntarily. To get more information or to enroll in EFTPS, visit the EFTPS website at www.eftps.gov, or call 1-800-555-4477. Also see Publication 966, The Secure Way to Pay Your Federal Taxes.
Depositing on time. For EFTPS deposits to be on time, you must initiate the transaction at least 1 day before the date the deposit is due (before 8:00 p.m. Eastern time).
taxmap/pubs/p510-050.htm#en_us_publink1000117333

Federal Tax Deposit Coupons.(p42)


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If you are not making deposits by EFTPS, use Form 8109 to make the deposits at an authorized financial institution. See the instructions in the coupon book for additional information. If you do not have a coupon book, call 1-800-829-4933.
Deposit
You will automatically be enrolled in EFTPS when you apply for an EIN. You will receive a separate mailing containing instructions for activating your EFTPS enrollment after you receive your EIN. You will still have the option to use FTD coupons, but see Electronic deposit requirement, earlier.
previous pagePrevious Page: Publication 510 - Excise Taxes - Filing Form 720
next pageNext Page: Publication 510 - Excise Taxes - When To Make Deposits
 Use previous pagenext page to find additional occurrences of topic items.Index for this Publication