Make it Easier to pay those Quarterly IRS Estimated Tax Payments
September 15, 2011
Today is September 15, one of the four times a year taxpayers must pay their quarterly estimated tax payments. If you are one of the many taxpayers who must “prepay” their tax throughout the year with quarterly estimated tax payments, I have a suggestion for you. Don’t write a check and mail with a voucher or even use a credit card processor and pay a $20 fee, but switch to the online payment systems provided by the IRS. Enroll in EFTPS, which is free, and you can schedule your payments in advance and track the history of your account.
The IRS is quickly moving away from paper and now requiring many business owners and employers to pay their taxes electronically. Self employed individuals, investors, and retired individuals who must make tax payments throughout the year will find the EFTPS system easy and convenient.
“Taxpayers are embracing the security, flexibility, and convenience of EFTPS,” said Russell Kuehn, FMS EFTPS program manager. “EFTPS provides online access to sixteen months of payment history, and once you’ve enrolled, you can schedule a payment from anywhere there’s a phone or Internet connection.”
If you want to switch to the online payment system you can log into eftps.com and ENROLL. After you enroll you will receive a personal identification number in the U.S. mail. Save this letter because it will contain your enrollment trace number and PIN number. You need this info to set up an Internet Password to use the online system. You can also scheduled payments via the voice response system. Payments can be scheduled up to 120 days in advance of the due date for businesses, 365 days for individuals. Payments must be scheduled by 8 p.m. ET the day before the due date to reach the IRS timely.
Try it out, it’s free and easy.
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