Federal taxes can now be paid electronically

DENVER – Businesses wanting to avoid the hassle of writing checks to the Internal Revenue Service now have the option to pay their federal taxes electronically.

As an addition to more traditional payment methods, the IRS now is offering the Electronic Federal Tax Payment System (EFTPS). Designed to make federal deposits for employment taxes easier, the system links financial institutions, businesses and individuals with the IRS and the Treasury’s Financial Management Service.

While the system currently is optional, come January 2000, businesses with a tax obligation of more than $200,000 may be required to make payments electronically. Call the EFTPS at 1-800-555-4477 or 1-800-945-8400.