What is an EFTPS payment?


Quick Answer

An Electronic Federal Tax Payment System Payment, or an EFTPS payment, is a tax payment service provided by the US Department of the Treasury to pay any taxes due to the federal government, notes the EFTPS website. Enrollment in the service is required prior to using it.

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Full Answer

The EFTPS payment service makes electronic payment to the Internal Revenue Service (IRS) for any federal tax bills. In order to enroll, taxpayers must first have their personal information validated with the IRS. After that is complete, the IRS will send a personal identification number in the mail within 5 to 7 business days. While the service is free, there may be other fees charged by the taxpayer's current financial institution, notes the EFTPS website.

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