Currently, when a PSP or an RA enrolls a client in EFTPS
, the client receives a letter with an inquiry PIN (personal identification number), so that it can monitor the payments made by the third-party provider.
Even if clients do not register for EFTPS
, they can still make electronic withdrawals from their accounts for tax balances due with their e-filed business or individual tax returns, including estimated tax payments and extensions.
Batch software allows tax preparers to make large numbers of federal tax payments on behalf of clients with the single click of a mouse using Treasury's EFTPS
for one year (four consecutive quarters).
can also be used to make installment agreement payments.
If you are responsible for making tax payments for multiple Taxpayer Identification numbers (TINs), EFTPS
gives you five ways to pay those federal business taxes: online, PC software, by phone, as a batch provider, or bulk provider.
294, where the IRS temporarily waived the failure to deposit penalty of section 6656 for taxpayers that were first required to submit payroll tax deposits using the Electronic Federal Tax Payment System (EFTPS
) on or after July 1, 1997, and submitted their payroll tax deposits timely but failed to use EFTPS
Once the regulations are finalized, those businesses that were previously required to use EFTPS
but did not make more than $200,000 in aggregate deposits last year will not be required to use EFTPS
on January 1, 2000.
State and local governments are required to participate in EFTPS
just as any other business taxpayer.
Small businesses to use EFTPS
for deposits beginning in 2011
Review up to 16 months of EFTPS
payment history online to confirm payments have been made.
For more information and to learn about the other EFTPS
alternatives (Bulk Provider Program and the Single Debit program), call 1-800-555-4477 or 1-800-945-8400 or visit www.