I have only used EFTPS for business, payroll taxes. However, am thinking that is the best route for people that have to pay estimated taxes, they could just pay as often as they can without needing forms. Does that work for individuals?
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Yes, very well.ChEAr$,
Harlan Lunsford, EA n LA -
I've been using it personally for several years, and it works quite well. One important caveat is that they verify addresses via snail mail, so you have to allow at least two weeks to get it set up and operational. (It might take less time, but don't count on it.) So you can't use it for estimated taxes the day before they're due.
There's also a newer IRS system, introduced this year, called Direct Pay. See http://www.irs.gov/Payments/Direct-Pay. I haven't used it, so I can't comment on how it compares to using EFTPS.Comment
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I have 3 clients on IRS Direct pay and they like it. Keep in mind each time you want to use it to pay estimated taxes it has to verify your identity. I think that is a good feature.Taxes after all are the dues that we pay for the privileges of membership in an organized society. - FDRComment
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On the down side, however, it lessens the U S Post Office's revenue.ChEAr$,
Harlan Lunsford, EA n LAComment
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Chears...the govt takes a hefty amount yearly from the PO. If they didn't the PO would be fine..Believe nothing you have not personally researched and verified.Comment
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