EFTPS Online Payments
Things to know about Federal Tax Payments
What is Federal Tax Payments ?
IRS Federal tax payments refer to the taxes individuals, businesses, and other entities are required to pay to the federal government in the United States. These payments are collected by the IRS (Internal Revenue Service) and are used to fund various government operations and services. There are several types of federal taxes, and the method for payment depends on the type of tax, the payer’s income, and other factors.
Difference between EFTPS & Direct Pay?
EFTPS
Primarily designed for businesses, selfemployed individuals, and tax professionals to make multiple types of federal tax payments, including income, payroll, estimated, and excise taxes. It can be used by both businesses and individuals, but it’s commonly preferred for more frequent or recurring payments, especially for employers.
Direct Pay
Geared towards individual taxpayers making one-time or occasional federal tax payments, like paying income tax, making estimated tax payments, or settling tax bills from a return or notice. It’s simpler and more suited for personal tax payments. Learn more about EFTPS vs Direct
EFTPS Due Dates & Deposit Schedules:
The EFTPS due dates and deposit schedules for federal tax payments depend on the type of tax being paid (e.g., payroll taxes, income taxes, or excise taxes) and whether the payer is an individual or a business. Here’s a breakdown of common schedules and due dates:
For eg:
● If a business pays its employees on Friday, October 25, and is on the semiweekly deposit schedule, the employment taxes are due on Wednesday, October 30.
● If the same business was on the monthly deposit schedule, the taxes would be due by November 15.
Learn more about EFTPS due date & deposit schedule.
How to make EFTPS Payments with TaxBandits
Create an Account with TaxBandits to make EFTPS Online payment.
Step 1: Select or add taxpayer information.
Step 2: Authorize using Form 8655.
Step 3: Add a bank account.
Step 4: Schedule your tax payments on time.
Choose TaxBandits to make EFTPS Payments
TaxBandits, an IRS authorised e-file provider is the best solution for the EFTPS Payments.
○ Simple, Easy and Secure
○ Easy Registration Process
○ Get Notified with Payment Status
○ Schedule Payments
○ Complete solution for Tax filing and Tax Payments ○ Track Payment History
