TaxBandits EFTPS Solution: Your Go-To Solution for Tax Payments
Manage your federal tax payments efficiently and securely with TaxBandits EFTPS solution, ensuring tax compliance with ease.
- Effortless registration process with minimal steps.
- Pay taxes easily even if you aren’t familiar with IRS Tax Form Numbers & Codes.
- Schedule your tax payments in advance and ensure deadline adherence.
- Receive real-time updates on the status of your payments.
- Keep track of your EFTPS payment history conveniently in one place.
Easily access and review your payment history with TaxBandits. Our comprehensive records help you monitor past transactions and track payment statuses.
Why Choose TaxBandits for EFTPS Payments?
Pay Taxes Anytime, Anywhere
With TaxBandits, you can conveniently pay your federal taxes 24/7 from anywhere, at any time. Enjoy the flexibility and ease of managing your tax payments on your schedule.
Easy, Secure, and Simple
TaxBandits makes the federal tax payment process simple, easy, and secure. Our user-friendly platform ensures that even the most complex tax payments are handled effortlessly.
Easy Registration Process
Registering for EFTPS can be complicated, but our system makes it easy. With our intuitive interface, you can complete the EFTPS registration for your business in a matter of a few minutes.
Get Notified with Payment Status
Stay informed about your EFTPS payments. Receive email notifications as soon as your payments are scheduled. You can also find the settlement date on your Dashboard.
Filed Elsewhere? Pay with TaxBandits
If you have filed your tax forms elsewhere, you can still make your IRS federal tax payments quickly and securely through TaxBandits.
Track Payment History
Easily access and review your payment history with TaxBandits. Our comprehensive records help you monitor past transactions and track payment statuses.
Manage Payments for Several Businesses
Whether you're a business managing payroll taxes for your employees or handling payments for several businesses, our platform is designed to accommodate your diverse needs.
Complete Solution for 941 Compliance
TaxBandits supports both e-filing and tax payment for Form 941, providing a streamlined solution to manage your payroll tax compliance in one place.
Schedule Payments at Your Desired Date
You can take advantage of the scheduling feature offered by TaxBandits to schedule your EFTPS payments at any time before the deadline.
Pay your federal taxes with TaxBandits EFTPS tax payment solution
How to Pay Federal Taxes in EFTPS through TaxBandits?
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Step 1: Add/Select Taxpayer and Choose Forms
Choose an existing taxpayer from the Address Book or add a new one. Then, select the forms you want to pay for.
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Step 2: Authorize TaxBandits
Complete and submit Form 8655 to authorize TaxBandits as your Reporting Agent (RA) to make tax payments on your behalf.
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Step 3: Add Bank Account
Add the bank account you want to use for EFTPS payments.
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Step 4: Schedule Payments
Once the registration is complete, you can start scheduling your federal tax payments.
Note: The IRS typically takes 24-48 hours to process your registration.
Ready to make federal tax payments with TaxBandits EFTPS Solution?
Types of Federal Taxes You Can Pay with TaxBandits
Filed Elsewhere? Pay with TaxBandits
If you have filed your tax forms elsewhere, you can still make your IRS federal tax payments easily and securely through TaxBandits.
Handle Payments for Several Businesses
Whether you're a business managing payroll taxes for your employees or handling payments for several businesses, our platform is designed to accommodate your diverse needs. You can make payments for multiple businesses under a single login.
Simplify Payments: Go Digital
TaxBandits offers the opportunity to transition to a paperless tax management system, enabling electronic handling of tax payments. Our platform guarantees quickened, streamlined, and punctual tax payment processes, easing the hurdle associated with traditional paperwork.
Track Payment History
Easily access and review your payment history with TaxBandits. Our comprehensive records help you monitor past transactions, track payment statuses, and maintain accurate financial records for your business.
Get Notified with Reminders
Stay informed about your tax obligations with timely alerts from TaxBandits. Receive notifications for upcoming deadlines and important updates to proactively manage your taxes and avoid hefty penalties.
Types of Federal Taxes You Can Pay with TaxBandits
Employment & Payroll Tax
- 941: Employer's Quarterly Federal Tax Return.
- 940: Employer's Annual Federal Unemployment (FUTA) Tax Return.
- 943: Employer's Annual Federal Tax Return for Agricultural Employees.
- 944: Employer's Annual Federal Tax Return
- 945: Annual Return of Withheld Federal Income Tax.
Nonprofit Excise and Unrelated Business Income Tax
- 990-PF: Return of Private Foundation or Section 4947(a)(1) Trust Treated as Private Foundation.
- 990-T: Exempt Organization Business Income Tax Return.
Corporate - Business Income & Excise Tax
- 1120 - U.S. Corporation Income Tax Return
- 720 - Quarterly Federal Excise Tax Return
Railroad Retirement Tax
- CT-1: Employer’s Annual Railroad Retirement Tax Return.
Estate & Trust Tax
- 1041: U.S. Income Tax Return for Estates and Trusts.
Withholding Tax
- 1042: Annual Withholding Tax Return for U.S. Source Income of Foreign Persons.
Affordable Pricing Plan to Make Your Tax Payments Easier
Choose the plan that best suits your business needs and ensures seamless tax payments
Annual Subscription
Recommended for businesses required to make frequent federal tax payments.
$149.00 / Year
+
$2.99 / Transaction
Pay as you Go
Recommended for businesses that make occasional federal tax payments.
1% of Tax Payment / Transaction
A minimum fee of $5.95 will apply for tax payments of less than $600.
See Why Our Clients Love Us
Security Is Our Top Priority!
As an IRS Authorized e-file provider, TaxBandits is comprehensive and designed to protect the integrity and security of the electronic filing system
and maintain the highest IRS federal tax payment standards.
SOC-2 Certified
- TaxBandits is a SOC-2-certified e-file provider, demonstrating our adherence to standard security protocols in safeguarding sensitive Personally Identifiable Information (PII).
Cybersecurity Measures
- In compliance with IRS guidelines, our platform enforces two-factor authentication to prevent unauthorized access to user accounts. Our powerful security features are purposefully designed to fortify data protection.
Industry-Standard Verification
- For IRS federal tax payments, TaxBandits diligently verifies bank account details employing a rigorous industry-standard verification process to ensure the security of sensitive financial information.
Frequently Asked Questions on IRS EFTPS Payments
Electronic Federal Tax Payment System (EFTPS) is a service offered by the U.S. Department of the Treasury for paying federal taxes online. The system is available 24/7. Through EFTPS, you can pay income, employment, estimated, and excise federal tax payments.
TaxBandits EFTPS service is tailored to serve businesses, employers, gig workers, self-employed individuals, and anyone with federal tax obligations.
Yes, if you have previously registered on the EFTPS (Electronic Federal Tax Payment System) site, you will need to register again to use EFTPS through TaxBandits.
Yes, if you manage taxes for multiple businesses, you need to register for each business separately in EFTPS. This is necessary because each business has its own unique Employer Identification Number (EIN) and separate bank account. Each bank account will be verified, as those details will be shared with the IRS to debit federal tax payments.
According to the IRS guidelines outlined in IRB 2012-34 (Rev. August 20, 2012) - Rev. Proc. 2012–32, the taxpayer must complete and submit Form 8655 to authorize a Reporting Agent to make federal tax payments on their behalf via EFTPS.
Therefore, when you register for EFTPS with TaxBandits, we require you to complete 8655 to act as your Reporting Agent for making federal tax payments on your behalf.
Generally, the IRS will process your EFTPS registration in 24-48 hours.
- If your EFTPS payment has failed due to insufficient funds, you will receive an email notification.
- You will need to make another attempt to submit the payment after ensuring the bank account provided has sufficient funds.
Note: The IRS may impose penalties for each failed or late payment, and the interest may accrue on the unpaid balance until the tax amount is fully paid. Therefore, we recommend that you ensure sufficient funds in your bank account on the scheduled payment date to avoid transaction failures.
The main difference between EFTPS and Direct Pay is that EFTPS is available for both individuals and business owners, while Direct Pay is only for individuals. Both services let you schedule payments up to 365 days in advance and cancel pending payments up to 2 days before the scheduled date. However, EFTPS allows payments up to $50 million, whereas Direct Pay has a cap of $10 million.
Late payment penalties apply when an organization fails to pay taxes by the deadline. These penalties, along with accumulating interest, are charged on the unpaid tax amount starting from the due date and continue until the payment is made. Typically, the penalty for late payment is 0.5% of the unpaid amount for each month or part of a month that the tax remains unpaid, continuing to accumulate until it reaches a maximum of 25% of the total unpaid taxes.
TaxBandits cannot process refunds for duplicate payments made via EFTPS, so it's essential to double-check your payments to avoid any inconvenience.
Helpful EFTPS Resources
EFTPS Due Date & Deposit Schedules
EFTPS Vs Direct Pay
EFTPS for Form 941