As an employer, my company Summersault is required to withhold and then turn in federal taxes from our employee paychecks. In the past we've turned in those withheld funds by printing out a check, walking it a block down the street to the bank, and getting a receipt.
I recently took the IRS's advice and inquired into enrolling in "EFTPS" - Electronic Federal Tax Payment System. (It's too bad they didn't call it something really cool like "Maximum Velocity Pay" or "Blue Tiger," but I guess EFTPS is at least accurate.) The idea behind EFTPS is that it will save you time and simplify payment and filing of federal taxes. So far, here's what the process has involved: Continue reading "Super ultra mega-secure EFTPS enrollment"