Tax Deposit

Tax Deposit

In the United States, payment of taxes through a Federal Reserve bank or other designated institution rather than directly to the IRS. Tax deposits are used for corporate taxes, withholding taxes and excise taxes.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
Under the 2015 expansion of pledged resources, all taxes on oil companies' gross earnings and a designated portion of the statewide sales tax are now deposited directly to the STF and pledged to bondholders; the sales tax deposit was phased in through fiscal 2018.
The Tax Court allowed a law firm to apply the equitable recoupment doctrine to an employment tax deposit that was erroneously applied to a related entity.
The IRS cautioned tax practitioners to remember that the $1,000 employment tax threshold for Form 944 is a separate issue from the federal tax deposit threshold of $2,500.
Nearly one million employers could qualify for a refund of a previously paid federal tax deposit penalty if they enroll in the IRS's Electronic Federal Tax Payment System (EFTPS).
You can escape or cap the Revenue's interest bill on any tax paid late by buying a certificate of tax deposit.
Before processing the quarterly tax deposit, it will warn you if the previous quarter payroll tax deposits were not made.
Simplified federal payroll tax deposit rules have been completed and announced by the Internal Revenue Service.
The Federal Reserve System is supporting Treasury's Federal Tax Deposit (FTD) Redesign, a joint effort of the Financial Management Service and the Internal Revenue Service to eliminate paper documentation, accelerate Treasury's receipt of funds, and enhance Treasury's cash management and tax payment information.
The embezzlement came to the fore when Noor Muhammad sold his piece of land to Sajjad, but the tax deposit receipts of the land were found fake.
Nor do the proposed regulations change existing rules regarding whether organizations can remit taxes with a return in lieu of making a federal tax deposit if their liability falls below a particular threshold (e.g., $2,500 for a return period for employment taxes).

Full browser ?