Benefits of EFTPS you should know
Benefits of EFTPS you should know
The technology- whirlwind in this ever changing world is providing you a classic way out from the ancient paper based system of filing federal taxes. So cut the toil of paper based system and treads the path of technology. The ÃƒÂ¢Ã¢â€šÂ¬Ã‹Å“Electronic Federal Tax Payment System’ is an easier way to pay all your taxes online. EFTPS is actually an online tax paying service hosted for free by ÃƒÂ¢Ã¢â€šÂ¬Ã‹Å“U.S. Department of Treasury’to facilitate the busy taxpayers to pay their taxes smoothly. Just by using your personal computers, laptop or smart phone you can have a happy pay-off. No special equipment, plugins or hookups are required. Now the question comes why will you use EFTPS? The answer is several benefits are there for customers.
Security: EFTPS is secured government website which ensures the safe-keeping of personal information you enter. EFTPS promises you a secure 128 bit encrypted session while accessing the site. Log in requires three unique entries namely: -ÃƒÂ¢Ã¢â€šÂ¬Ã‹Å“Taxpayer Identification Number’ (EIN or SSN), ÃƒÂ¢Ã¢â€šÂ¬Ã‹Å“Personal Identification Number’ (PIN) and an Online Gateway Password enhancing the security constraint of the domain.
Play with technology convenience: EFTPS is available 24/7. You can pay off your taxes at any hour from where you are sitting through your PC, laptop or phone.
Businesses or an individual can schedule their tax payment up to 365 days in advance. Scheduled payment date can be stalled up to two business days in advance before the scheduled payment date.
EFTPS covers your income, employment, estimated and service taxes.
Dependable accuracy: By 8 pm, a day before your scheduled payment date you can issue your payment instructions regarding the fund transfer. You can ensure that your fund transfer will not be initiated before your specified date. An instant notification of your payment orders will be received, and bank statements shall be generated confirming your payment.
Customer help support: EFTPS has a customer service support which provides taxpayers the enrollment form. You can endorse for 1000 enrollments and 5000 payments in one transaction. Moreover, you can check up to 16 month payment history online from the place you are sitting by calling EFTPS customer service.
EFTPS site provides easy navigation for you to scroll over and view vital details.
EFTPS enables you have control over your tax payment methods which you can do by three ways:
EFTPS-direct: Pay directly through your PC, laptop or phone.
EFTPS through a financial institution: Here you can start your fund transfer by using the payment service put forward by your financial institution. In this case, you will have to scan costs, deadlines and eligibility with your financial institutions.
EFPTS bulk provider: Compatible to payroll processors who facilitate frequent payments from and automated enrollment through electronic data interchange (EDI).
EFTPS not only lubricates and simplify your tax paying process it hands over above mentioned rights exclusively to you. Since the rights, come your way with certain obligations, so you must endeavor to undertake certain responsibilities like making your tax payment report at least a date prior to tax due date, making sure your account has sufficient sum to cover tax expenses, along with recorded tax acknowledgement number.
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Written by : subhasish and updated on February 5, 2014