Electronic Federal Tax Payment System (EFTPS)
How Can Electronic Federal Tax Payment System Help Your Business?
Electronic Federal Tax Payment System (EFTPS) is a tax payment system that offers businesses the convenience of making all
their federal tax payments electronically 24 hours a day, 7 days a week, instead of using paper coupons. Why would you
want to use EFTPS?
Because it is:
Easy to Use: With a telephone, or personal computer, taxpayers initiate their tax payments at least one calendar day
before their taxes are due. On the due date, the funds will automatically move to EFTPS. No special equipment is
required, and there is no cost for the Windows based computer software.
Convenient: 24 hours a day / 7 days a week. As an added convenience, EFTPS allows taxpayers to “warehouse” their tax
payment instructions up to 30 days in advance of a tax due date; it will then automatically make the payments for your
business on the tax due date.
Accurate: The electronic payment method is more accurate than paper coupons and checks. With EFTPS, there are telephone
and computer feedback prompts that enable taxpayers to input their information; you then review your work before you
select the button to send your payment.
Fast and Economical: It only takes minutes to make a tax payment using EFTPS. It is much less burdensome than writing
checks, getting signatures on the check and a special trip to the bank, etc. There are no worries over a check becoming
lost in the mail, or fines and penalties because a payment is late.
Total Control: Whether using the telephone or computer, as a business owner you are in control of initiating your tax
payments through EFTPS. Payments are based on your instructions with no unauthorized access to your accounts or other tax
One System For All Tax Payments: Once you are enrolled in EFTPS, you can make all your Federal tax payments for the
business using EFTPS. This includes employment, excise and corporate income taxes.
Simple Enrollment: As the business owner, you must first enroll to participate in EFTPS. Enrollment is available online
or by calling 1-800-945-8400 or 1-800-555-4477. After EFTPS processes your enrollment form, you will
receive a Confirmation/Update Package containing all the information you need to use the system. Best of all, this service
Wisconsin River Bank’s Personal Bankers are available to assist you with any further questions you may have about EFTPS.