Pay Business
Taxes Electronically
EFTPS may save your business time, money and paper
The Electronic
Federal Tax Payment System (EFTPS) is a free service provided by the U.S.
Department of Treasury that allows individuals and small businesses to pay
federal taxes online, including income, employment, estimated, and excise
taxes.
In 2006, the IRS began to allow taxpayers to make a credit card payment
for taxes owed on employment tax returns such as Forms 940 and 941. The
payment can be made for the balance on the current return that is due.
Additionally, Form
941 filers can make credit card payments for up to three prior quarters.
This adds up to convenience for many busy business owners.
EFTPS is accurate,
secure, and convenient, and it eliminates the paper-based federal tax
deposit coupons. As an added benefit, EFTPS users are 31 times less likely
to be assessed a penalty for errors or late payments than are non-EFTPS
users.
