The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
Federal R eserve Bank OF DALLAS h e l e n e .h o l c o m b October 18, 1996 FI R S T V I C E P R E S I D E N T AND DALLAS, TEXAS 7 5 2 65 -5 90 6 C H IE F O P E R A T I N G O F F I C E R Notice 96-106 TO: The Chief Operating Officer of each financial institution in the Eleventh Federal Reserve District SUBJECT Implementation of the Electronic Federal Tax Payment System (EFTPS) DETAILS We are pleased to announce the implementation of EFTPS on October 28, 1996. Effective this date, electronic tax payments will be accepted for processing by the EFTPS utilizing the Automated Clearing House (ACH) credit or debit options as the primary methods of payment. As you are aware, prenotifications are required for both payment options. Your institution may receive a debit prenote from one of the Treasury Financial Agents on behalf of your corporate taxpayer as early as October 21, 1996. If you are offering the ACH credit payment option, please remember to submit a zerodollar entry 10 days prior to actual payment transactions for your corporate taxpayer. Please note that prior to originating a zero-dollar entry, your customer must receive their enrollment confirmation package from EFTPS, which will be distributed beginning Oct 28. For your information and review, the proposed regulations that govern Treasury Tax and Loan depositaries and the payment of Federal Taxes via EFTPS were published for comment in the Federal Register September 30, 1996. As you may be aware, a provision has been included in the Small Business Job Protection Act that has delayed the requirement for the 1.2 million taxpayers to pay their taxes electronically from January 1, 1997, to July 1, 1997. However, taxpayers are still encouraged to enroll early in EFTPS and begin paying their taxes electronically as soon as they receive their enrollment confirmation package. Over the next six weeks, you will be receiving the following information under separate cover: For additional copies, bankers and others are encouraged to use one o f the following toll-free numbers in contacting the Federal Reserve Bank o f Dallas: Dallas Office (800) 333 -4460; El Paso Branch Intrastate (800) 592-1631, Interstate (800) 351-1012; H ouston Branch Intrastate (800) 392-4162, Interstate (800) 221-0363; San A ntonio Branch Intrastate (800) 292-5810. This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) DI Fact Sheet about EFTPS DI training package Fedline Taxpayer Deposit Application business procedures ETA Fedwire business procedures ATTACHMENT Attached is a list of contacts and their telephone numbers. MORE INFORMATION If you have any questions regarding EFTPS, please refer to the contact list attached. We look forward to working with you on this exciting new initiative. Sincerely, VIII. Key Contacts Questions about EFTPS can be directed to FMS, IRS, or TFAs. Telephone assistance is available Monday through Friday, 8:00 a.m. ET to 8:00 p.m. ET. Questions about the ETA same-day reporting applications can be directed to your local FRB during normal operating hours. A. Depository Institutions—Additional Information on EFTPS • Contact the EFTPS Financial Institution See Exhibit 4 Helpline • Contact the Financial Management Service, EFTPS Project Team Mike Chew Ann Cook Walt Henderson Mike Mackay Elizabeth Oldenburg Grace Testoff • (202) (202) (202) (202) (202) (202) 874-7061 874-6714 874-7454 874-6892 874-6835 874-6747 Questions or comments about EFTPS may also be directed to the FMS EFTPS Project Team through the Internet at the following address: firstname.lastname@example.org B. Depository Institutions— Additional Information on the ETA Same-Day Reporting Mechanisms • C. Contact the Federal Reserve of Dallas, Treasury, Tax and Loan Section: Janie Worley at (214) 922-6761 Taxpayers— Additional Information on EFTPS • Contact the EFTPS Customer Service Center Helpline NOTE: D. See Exhibit 4 The toll-free EFTPS Customer Service Center Helpline numbers listed on Exhibit 4 are not effective until June 1996. Taxpayers—Additional Information on TAXLINK (until December 31,1996) • Contact the IRS TAXLINK Helpline (800) 829-5469 Contact the TFA TAXLINK Helpline First National Bank of Maryland (800) 332-4104 Exhibit 4 EFTPS Customer Service Center and Financial Institution Helplines 1 If you m ake yo u r Federal tax If you make your Federal deposits at a financial in stitu tio n in tax deposits at a financial institution the dark p o rtio n o f th e map, in the light portion of the map, please use these p h o n e num bers please use these phone numbers fo r EFTPS e n ro llm e n t or cu sto m e r for EFTPS enrollment or customer service. To Enroll, call EFTPS C us tom er Service C en ter To Enroll, can EFTPS Customer Service Center M onday-F rida y 8 am to 8 pm ET Monday-Friday 8 am to 8 pm ET English: 1 80 0 945-8400 Spanish: 1 8 0 0 945-8600 - - - - 1 8 0 0 945-8900 - Financial In stitutio n Helpline: - 1 8 0 0 945-7900 - - The toll-free EFTPS Customer Service Center Helpline numbers for taxpayers are not effective until June 1996.