Hey it's paddy sharp CPA and co-founder of catching clouds a leader in e-commerce accounting today I want to talk about EFTPS EFTPS stands for electronic federal tax payment system it is the system that the US government uses for collecting payments for estimated taxes you can make income tax payments if you get a notice from the IRS you can submit payment that way you can submit payment through payroll taxes and all of that when we have a new client we always recommend that they actually sign up and get a login for this not because we want them to make payments through the system but because the system allows you to see what payments have been made on your account so if you're outsourcing your payroll taxes or you you're asking your professional to pay taxes in and your behalf then you can actually log in and make sure that that's happening and it's happening the way you would expect it to happen I recently did a video on internal controls and one of the stories that I saw in the news was about somebody who pretended to be a CPA and had the person write out their their income tax payment to them personally yeah this should be a red flag guys but even if you do that and you're kind of worried about it or whatever you can check up on people using the EFTPS system so I'm going to show you how to use it and recommend that you take care of that okay so the first thing you do is you log in and you enroll when you enroll it's going to ask you a bunch of different questions you'll either enroll as a business or an individual now if you're a sole...
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Eftps Form: What You Should Know
The Electronic Federal Tax Payment System provides customers with a secure system to pay their taxes electronically. It saves taxpayers the time and money of writing or mailing forms and eliminates the hassle of dealing with non-compliant mail. FATWA: Foreign Account Tax Compliance Act FTPS provides clients with fast and easy access to the electronic filing information required to comply with U.S. tax rules. For more information, please visit: .
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