Tax Article - Individual Taxpayers May Pay their Tax Payments Electronically

Federal payments may be made through the Electronic Federal Tax Payment System (EFTPS). Taxpayers using EFTPS can:

• Pay by phone or internet 24 hours a day, 7 days a week.
• Receive an acknowledgement for each payment made.
• Pay their individual estimates, balance due amount and gift/estate taxes.
• Schedule any payment up to 365 days in advance. All four estimated tax payments could be scheduled at one time.
• Review your past 16 months of payment history.

In order to use EFTPS, taxpayers must set up an account by logging into www.eftps.gov and establishing an account with the IRS. It takes approximately 15 days to register and receive an ID and password to use. Payments must be made at least one day before the due date of the payment. Any previously scheduled payment can be cancelled; but must be done at least two days prior to the due date of the payment.

In order to pay Massachusetts payments electronically, you must log on to the Massachusetts website, https://wfb.dor.state.ma.us/webfile/wsi. You will need to establish a user name and password, which can be done instantaneously. You will need to know the amount of your refund or balance due on your 2005 Massachusetts tax return. At that point you can make payments by entering in your bank account number and routing number. You can pay estimated tax payments, balance due amounts, extension payments and make tax bill payments on line 24 hours a day, 7 days a week. In addition, you can file your personal extension, check your refund status and view a history of any quarterly estimated payments you have made to Massachusetts.

Please contact Feeley & Driscoll's Boston Accounting Firm by Email or call us at 1 (888) 875-9770.

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