TXP is not an SEC Code like the others, but instead, it refers to using a specially formatted addenda alongside a CCD transaction to make tax payments to local, state, or the federal government.

 

For example, companies are required by law to pay the federal 941 tax that covers Social Security, Medicare, and employee withholding.  These transactions are regular CCD on an ACH level.  However, each transaction would include an addenda formatted based a specification outlined by the taxing authority that contains information about the tax.

 

 

See the Tax Payments section for more information