This subpart prescribes the rules that financial institutions must follow when they process electronic Federal tax payment transactions. A financial institution is not required to be designated as a TT&L depositary in order to process electronic Federal tax payments. In addition, a financial institution does not become a TT&L depositary by processing electronic Federal tax payments under this subpart and may not represent itself as a TT&L depositary because it does so.
authority: 12 U.S.C. 90,265-266, 332, 391, 1452(d), 1464(k), 1767, 1789a, 2013, 2122, and 3102;
26 U.S.C. 6302;
31 U.S.C. 321,
323,
and
source: 72 FR 59181, Oct. 19, 2007, unless otherwise noted.
cite as: 31 CFR 203.9