Who must pay by EFT?
Effective July 1, 2004, taxpayers whose prior year liability for a particular tax exceeded $10,000 for the twelve-month period ending the preceding June 30 for monthly and quarterly tax liabilities or for the preceding taxable year for annual tax liabilities, and who are notified by the Department of Revenue Services (DRS) to pay that tax by EFT, must pay the tax by EFT. 3. Will I always be required to pay that tax by EFT? No. Each year DRS reviews your prior year liability for a particular tax. You will be notified by DRS if you are no longer required to pay that tax by EFT, but you must continue to pay by EFT until DRS notifies you that you no longer are required to do so. 4. How do I register for EFT? Complete Form EFT-1, Authorization Agreement for Electronic Funds Transfers, indicating your choice of EFT method and providing the required bank information. After we receive your completed Form EFT-1, DRS will send additional information and instructions to your designated contact pe
