Treasury Department Unveils Online Payment

The Treasury Department announced Sept. 6 that all businesses and individuals can now pay their taxes online through a secure Web site .

Known as Electronic Federal Tax Payment System-On-Line, the Web site, www.eftps.gov, is the newest option of the Electronic Federal Tax Payment System. Businesses and people can sign up for online payment at the site.

As part of the enrollment process, taxpayers will receive a confirmation kit by mail with instructions for obtaining an Internet password. A personal identification number will be mailed separately to new users for added security.

The service allows taxpayers to schedule payments up to 365 days in advance. Business taxpayers can schedule payments up to 120 days in advance.

Key features of the system include a printable acknowledgment number for every transaction and access to payment history for up to 120 days.

Business taxpayers whose total deposits of federal taxes exceed $200,000 per calendar year are required by law to pay their taxes electronically. Since 1996, the IRS has collected more than $5.7 trillion electronically from these businesses.

Planning for online payment began more than three years ago. The service has been in pilot stage since October 2000.