You will receive these benefits by using this system:

• Confirmation that the IRS received a payment in the form of a printable acknowledgment number.
• Direct transfer of the payment to the government from your bank account on a specific account.
• Review tax payments, up to 365 days for individuals and 120 days for businesses.
• Advance scheduling of payments
• The online system is even more secure than those used by banks and included a dedicated hardware, several layers that are difficult to breach and 24-hour, sever day a week monitoring by the IRS.
• The online systen is available and can be accessed 24 hours a day, 7 days a week.

To sign up - Go to www.eftps.gov and follow the prompts. You will need your federal ID number (or social security number), precise spelling of the taxpayer's name and bank information. You will then receive by regular mail a confirmation kit that included a password for the Internet site. A separate mailing will include a unique personal identification number for additional security. This system has already been used to collect more than 1.9 billion in taxes over the past year pilot program.

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Material Copyright © 1998 James E Reynolds CPA