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Electronic Funds Transfer System |
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Electronic Funds Transfer System Any computerized system that facilitates a transaction in which money, securities, or some other good changes hands. Examples of electronic funds transfer include receiving cash out of an ATM and placing an order to buy a stock over the telephone. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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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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