As a small business owner, not only do you need to pay the right amount of taxes – on time — but you also need to pay them the way the IRS wants you to. If your total federal tax liability for the year is more than $200,000, the IRS requires you to pay your taxes electronically. As a bonus, you don’t have to worry about submitting IRS Form 8109 — the Federal Tax Deposit Coupon. But if your business has a total federal tax liability for the year that is less than $200,000 dollars, you can choose to make regular federal tax deposits using form 8109 or by filing electronically. The IRS will send you a book of these forms after you apply for your Federal Employer Identification Number. You’ll receive 24 coupons pre-printed with your name, address and ID number. You won’t need to re-order when you run out. The IRS will automatically mail you a new coupon book.
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 Payroll Definitions
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