The Electronic Federal Tax Payment System (EFTPS) is a free tax payment system for all taxpayers. The EFTPS system is an easy way to pay your federal taxes for individuals as well as businesses. You can make ALL of your federal tax payments including federal tax deposits (FTDs), installment agreement, and estimated tax payments using EFTPS.
EFTPS can be used instead of Electronic Funds Withdrawal (EFW) if you would prefer to set up your payment(s) separately from filing your return, or if you have already filed your return without setting up payments. Since the EFTPS payment information does not get transmitted when you e-file, indicate that you are paying by check during the filing steps, and then arrange payment through EFTPS.
To make estimated tax payments online, first establish an account with the IRS at the EFTPS website. Once you have an EFTPS account established, you can schedule automatic withdrawals for your quarterly estimated taxes, specifying the amounts and the dates of the payments.
For estimated tax purposes, the year is divided into four payment periods. Each period has a specific payment due date. If you do not pay enough tax by the due date of each of the payment periods, you may be charged a penalty even if you are due a refund when you file your income tax return.
The first estimated tax payment is generally due the 15th of April. You may pay the entire year's estimated tax at that time, or you may pay your estimated tax in four payments. Generally, the four payments are due April 15th, June 15th, September 15th, and January 15th of the following year.
If the due date for making an estimated tax payment falls on a Saturday, Sunday, or legal holiday, the payment will be considered on time if you make it on the next business day that is not a Saturday, Sunday, or legal holiday.