How Do You Pay Estimated Taxes Online?
If you are self-employed, freelance or run your own business, you may be required to pay quarterly estimated taxes. If you file the quarterly 1040, you have the option of paying your estimated taxes online through the Electronic Federal Tax Payment System (EFTPS). This website simplifies the process of submitting estimated taxes throughout the year by allowing individuals to make payments on any schedule they choose–be it weekly, monthly or quarterly. Paperwork is eliminated and taxes can be submitted with a few clicks of the mouse. Visit EFTPS.gov and enroll in the EFTPS system. You will need to provide your name, address, taxpayer identification number or Social Security number and the account and routing numbers for your bank account. Watch your mail for an EFTPS Confirmation Package. This will provide you with detailed information on how to obtain the Internet password for your account. You will also receive your personal identifcation number in the mail. You should allow two to t
