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Tax payments are extremely important. Whether you’re an Originator or provider, you need to be making sure you’re using both the correct banking conventions and tax payment type code. That’s why Nacha is offering this short refresher. Let’s start with the …
When payments are made using the ACH Network for specific purposes, banking conventions provide a standardized way to format additional detailed information so the payment is more easily and readily applied. Nacha has three such banking conventions that …