EFTPS-OnLine was introduced almost two years ago and allows taxpayers to make their federal tax payments electronically. The changes will provide users with more than a half-dozen new features, ranging from more convenience for scheduling payments to expanded ability to track payment history.
Improvements for payments include the ability to schedule all four estimated tax payments, Form 1040ES, at once in one session without logging out, and a search and sort payment history option. Also, taxpayers may now access payment history for a 16-month period of time, as compared to 120 days in the previous version.
The upgraded site also includes the ability to change bank accounts by phone without completing a new enrollment, select a PIN online when changing a bank account number and begin making payments from that account immediately, and access links to states with electronic tax payment systems directly from the EFTPS Web site.
EFTPS is a service provided free by two agencies of the U.S. Department of the Treasury, the IRS and the Financial Management Service. The system enables taxpayers and tax professionals to make federal tax payments electronically using EFTPS-OnLine, EFTPS-Phone or EFTPS Batch Provider software for professionals.