ACH Debit Entry Law and Legal Definition
According to 31 CFR 203.2 [Title 31 -- Money and Finance: Treasury; Subtitle B -- Regulations Relating to Money and Finance; Chapter II -- Fiscal Service, Department of the Treasury; Subchapter A -- Financial Management Service; Part 203 -- Payment of Federal Taxes and the Treasury Tax and Loan Program; Subpart A -- General Information], ACH debit entry means “a debit transaction originated by the Treasury Financial Agent (TFA), at the direction of the taxpayer, in accordance with applicable ACH formats and applicable laws, regulations, and instructions.”
