EFTPS is quickly becoming the easiest way for businesses to make their Federal Tax Payments. EFTPS - (Electronic Federal Tax Payment System) was created by the U.S. Department of the Treasury in 1995 to modernize tax payments - moving Federal Tax Payments from a paper-based system to an electronic one.
IRS claims: More than 8 million taxpayers are currently enrolled in the system. Since EFTPS started in 1996, there have been over 717 million electronic payments made, totaling almost $17 trillion!
easy to use...with EFTPS-Direct, using a phone or personal computer (PC), taxpayers initiate their tax payments at least one business day before their taxes are due. And on the due date, the funds automatically move to EFTPS. No special equipment is required to use EFTPS-Direct, and if taxpayers wish to use their PC, free Windows® - based software is available.
convenient...24 hours a day, 7 days a week, taxpayers can access EFTPS-Direct by phone or PC and initiate their tax payment instructions.
accurate...the electronic payment method is more accurate than paper coupons and checks. With EFTPS-Direct, there are phone and PC feedback steps that enable taxpayers to input their information, then review their work before they push the button to send their payment instructions.
fast and economical...it only takes minutes to make a tax payment using EFTPS-Direct - much easier than writing checks, getting signatures on checks, last minute trips to the bank, etc. And taxpayers save the expense of couriers, checks, stamps and envelopes, in addition to internal staff time required to make tax payments.
full control...whether using a phone, PC or a financial institution, taxpayers are in control of initiating their tax payments through EFTPS. Payments are made based on their instructions. No one has unauthorized access to their accounts or tax information.
one system for all taxpayments...once business taxpayers enroll in EFTPS, they can make all their Federal Tax Payments for their business using EFTPS. This includes employment, excise, and corporate income taxes.
simple enrollment...taxpayers must first enroll in order to participate in EFTPS. Enrollment Forms are available.
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