To make an electronic payment of federal taxes, you have two primary options: the Electronic Federal Tax Payment System (EFTPS) and Same-Day Wire Payment. Here’s a detailed guide on how to use each method:
Electronic Federal Tax Payment System (EFTPS)
- Enrollment:
- You must first enroll in EFTPS. Visit the EFTPS website (www.eftps.gov) to start the enrollment process.
- After enrolling, you will receive a Personal Identification Number (PIN) in the mail. Note that due to COVID-19-related office closures, there may be delays in issuing PINs.
- Making a Payment:
- Once you have your PIN, you can make payments online or by phone.
- Online: Go to www.eftps.gov, log in using your EIN and PIN, and follow the prompts to schedule your payment.
- Phone: Call the EFTPS Voice Response System at 800-555-3453, enter your EIN and PIN, and follow the instructions to make a payment.
- Scheduling Payments:
- You can schedule payments up to 365 days in advance for individuals and 120 days in advance for businesses.
- Ensure you schedule your payment at least one calendar day before the tax due date to avoid penalties.
- Confirmation:
- After making a payment, you will receive an immediate acknowledgment number for your records.
- You can check up to 16 months of your payment history online or by calling EFTPS Customer Service.
- Customer Service:
- For assistance, contact EFTPS Tax Payment Customer Service at 800-555-4477 (Businesses) or 800-316-6541 (Individuals).
Same-Day Wire Payment
- No Enrollment Needed:
- Unlike EFTPS, you do not need to enroll or obtain a PIN to make a same-day wire payment.
- Making a Payment:
- Download and complete page 1 of the Same-Day Taxpayer Worksheet from the IRS website.
- Provide the completed worksheet to your financial institution to initiate the wire transfer.
- Cutoff Time:
- The cutoff time for same-day wire payments is 5 p.m. Eastern Time. However, your bank may have an earlier cutoff time, so check with your financial institution.
- Fees:
- Your financial institution may charge a fee for processing a same-day wire payment.
- Customer Service:
- For assistance with same-day wire payments, contact Federal Tax Collection Service (Same-Day Wire) Customer Service at 800-382-0045 or 314-425-1810 between 8:30 a.m. and 7 p.m. Eastern Time, Monday through Friday.
Important Considerations
- Ensure Sufficient Funds: Make sure your bank account has sufficient funds to cover the tax payment to avoid penalties and interest.
- Record Keeping: Keep the acknowledgment number and bank statement as proof of payment.
- Timeliness: Schedule and initiate payments well before the due date to avoid late payment penalties.
By following these steps, you can efficiently and securely make electronic payments for your federal taxes.
Sources:
Publication 966 (3/2012)
Publication 17 (2023)
Publication 3611 (1/2014)
IRM Part 3. Submission Processing. Chapter 17. Accounting and Data Control. Section 277. Electronic Payments
Publication 1380
Publication 3151-A (9/2017)
