Wipfli Alerts & Updates: U.S. Treasury’s Electronic Federal Tax Payment System

January 5, 2011
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Starting January 1, 2011 the Internal Revenue Service will no longer be accepting federal tax payments with Form 8109-B. Taxpayers will be required to make tax payments through electronic funds transfers.

Acceptable methods of payments will include: Authorize an electronic fund transfer from your bank, use a credit or debit card, or enroll in the U.S. Treasury’s Electronic Federal Tax Payment System (EFTPS).

The EFTPS is a service offered free by the U.S. Department of the Treasury for people to pay federal taxes electronically, check payment history, and save a trip to the bank. It is convenient, easy, secure and available at no cost.

If you choose to enroll for an account through EFTPS, please use the following steps:

Select the enrollment box at the bottom of the www.eftps.com website page.
Read the Privacy Act and Paperwork Reduction Act information. If you agree to the terms, click on the “I accept” box and then enroll as a business.
Enter and verify all information. You will need the following information available to set up your account:
a. Business's federal Employer Identification Number (EIN)
b. Business's telephone number
c. Your contact information - address and name as they appear on your IRS tax documents
d. Bank routing number and account number
After you review your information, submit it and print the enrollment confirmation page for your records.
A confirmation will be mailed within seven business days to the primary contact name and address you indicated.
After you receive your PIN number, you will have to call 1-800-982-3526 to get a temporary internet password.
Once all the above steps are complete you will be able to log on and make tax payments for your business.

Please contact your Wipfli relationship executive with any questions, or for information on EFTPS visit www.eftps.com.

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