Electronic Federal Tax Payment System

The government has mandated that as of January 1, 2011 Federal tax coupons form 8109B will no longer be accepted. Penalties will be charged for not making payments of employment taxes and corporate federal income taxes electronically.  

Small businesses typically those with a federal tax liability of less than $2,500 per quarter will still be able to mail a check with their quarterly or employment tax returns.  

This would not apply to those businesses who have taxes paid in by a payroll service or who are already remitted deposits electronically.

To register you will need to go online and set up an account from which to make payments.  To use this account you will need a pin number and to get this back to you takes about 15 working days.

Here is how to get your account and pin number:

Go on line to www.eftps.gov/eftps/enrollment/new
Select "enrollment"
Click to accept "Privacy Act"
Select "Business"

From here on just follow these steps.

• Be sure that you give a current address as you will receive the pin number in the mail.
• Print copies for your records and to keep track of when you should expect the pin number.
• Make a record of how to access your account so that when you get the pin you can have the funds transmitted.
• Get with your accountant  early in December to determine how much your payment will be.