When is the payment due if the due date falls on a weekend or legal holiday?
If the due date falls on a Saturday, Sunday, or legal holiday, the next business day is the due date. For an ACH debit transaction, you must initiate the EFT no later than 4:30 p.m. eastern time on the last banking day prior to the weekend or holiday. For an ACH credit transaction, contact your bank for information. Legal holidays are New Years Day, Martin Luther King Day, Lincolns Birthday, Washingtons Birthday, Good Friday, Memorial Day, Independence Day, Labor Day, Columbus Day, Veterans Day, Thanksgiving, and Christmas. For this years holiday schedule, go to www.ct.gov/DRS and click on Electronic Services. Then choose the Electronic Funds Transfer page. 26. Is there a penalty for a late tax payment by EFT? Yes. Penalties for late EFT payments are: • 2% of the tax due for EFT payments not more than 5 days late; • 5% for EFT payments more than 5 days but not more than 15 days late; and • 10% for EFT payments more than 15 days late. Interest is charged at the rate of 1% per month or f
