March 04, 1997
IRS Announces Good News for Businesses
WASHINGTON - The Internal
Revenue Service has good news for over 890,000 business taxpayers -- many of them may now
be able to throw away the paper and file their quarterly payroll returns, Forms 941, by
telephone. Like the TeleFile system for individuals, this free, paperless, telephone
filing method automatically figures the tax and any refund or balance owed.
The Form 941 TeleFile pilot will begin with returns due by
April 30, 1997, for the first quarter of 1997. Special Telefile packages with the
necessary information for potential filers will arrive during the next few weeks. These
packages include payment vouchers for those who owe money, along with paper Forms 941 for
those who may not qualify for TeleFile.
The test is limited to taxpayers in 14 states in the
southeastern United States -- roughly, Delaware through Louisiana -- and the District of
"Filing by phone is quick, easy and convenient,"
said IRS Commissioner Margaret Milner Richardson. "I am sure that business owners
will be as pleased with TeleFile as individuals are. Already this year, more individuals
have filed by phone than in all of last year."
Businesses may also pay their federal taxes electronically --
using a telephone or a personal computer -- through IRS' Electronic Federal Tax Payment
System (EFTPS). This system eliminates paper tax deposit coupons and trips to the bank for
businesses. Over 800,000 have already enrolled to pay their taxes through EFTPS.
"Telefile and EFTPS are two ways to make it easier for
business owners to file and pay their taxes," said Richardson. "They will have
more time to spend on business."
The TeleFile system will eventually be available nationwide
for employment taxes, just as it is for individuals.
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