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This form is used to authorize electronic payments to the Illinois Department of Revenue through ACH credit, pay-by-phone debit, or direct file debit methods.
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How to fill out eft-1
How to fill out EFT-1
01
Obtain the EFT-1 form from the official source.
02
Fill in the required personal information, including your full name and address.
03
Provide your bank account information, including account number and routing number.
04
Specify the payment amount and frequency, whether it's a one-time or recurring payment.
05
Review all filled-out information for accuracy.
06
Sign and date the form.
07
Submit the completed EFT-1 form to the appropriate entity.
Who needs EFT-1?
01
Individuals or entities making payments electronically.
02
Businesses that process payroll or vendor payments.
03
Organizations that need to automate their payment systems.
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What is EFT-1?
EFT-1 is a form used for Electronic Funds Transfer, which is a method of transferring money electronically from one bank account to another.
Who is required to file EFT-1?
Entities and individuals responsible for certain tax obligations that exceed a specified threshold are required to file EFT-1.
How to fill out EFT-1?
To fill out EFT-1, enter the relevant taxpayer information, the amount to be transferred, and select the appropriate payment type from the provided options.
What is the purpose of EFT-1?
The purpose of EFT-1 is to facilitate the electronic transfer of funds for tax payments and reduce the need for paper checks.
What information must be reported on EFT-1?
The information required on EFT-1 includes the payer's identification details, the payment type, the payment amount, and the payment date.
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