PATAX

The Paper Tax System (PATAX) is used by TT&L depositaries to collect, adjust and report all paper-based federal tax deposits. Upon receipt of deposits from taxpayers, a financial institution enters its Advices of Credit (AOCs) via TT&L Plus. After the AOCs are submitted and verified, PATAX processes and transmits the information to the Treasury Investment Program (TIP) application. Ultimately, TIP collects the funds through charges to the financial institution and transmits the information to the Internal Revenue Service (IRS).

PATAX also processes adjustment requests from financial institutions and the IRS for paper tax payments and monitors the collateral pledged for in-transit balances.

Financial institutions may obtain information on becoming a TT&L depository by contacting the Treasury Support center at (888) 568-7343 or email them at TTL_Plus@stls.frb.org.