Tax Tips – No more paper payroll tax deposits – Defined value gifts limit tax exposure – Check out charities before you donate
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Description
Abstract: This issue’s “Tax Tips” section addresses the Electronic Federal Tax Payment System (EFTPS), and why businesses using paper coupons to submit federal payroll tax deposits must now switch to it. It also shows how defined value gifts can limit tax exposure, and states the importance of donors being sure that charities are in good standing with the IRS.
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