You may have heard of the term EFTPS. It is an acronym that stands for Electronic Federal Tax Payment System (EFTPS). It is a service provided by the United States Department of Treasury. The IRS uses it for employer tax payments and it is a free service. When you register for it, you will be given a 4-digit EFTPS PIN and password. When you make an e-payment of 940 and 941/944 tax forms, these details or login credentials are necessary for further processing. You get to keep track of your tax payments and know how much you will owe throughout the fiscal year.
You receive convenience and flexibility when using the QuickBooks application to make tax payments using EFTPS. QuickBooks enables you to pay your company’s taxes using the Electronic Federal Tax Payment System.
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ETPS Internet Password Requirements
A recent IRS update on the EFTPS Password and the need of changing the EFTPS Internet Password was issued. The IRS’s criteria for the ETPS Internet password become effective on October 24, 2019, according to the revised rules. The following are the requirements for the same:
- The Internet Password for EFTPS expires after 13 months. This implies that it must be updated every 13 months.
- The password should be between 12 and 30 characters long. It was initially limited to 8-12 characters.
- If you changed your password within the last 13 months, the current password will still be valid and functional.
How to Change Your EFTPS Internet Password
If the password is more than 13 months old, you must change it by following the instructions outlined below.
A specific set of steps is required to update the EFTPS Internet Password. But first, you must have some information on hand, such as your Taxpayer Identification Number (TIN), PIN, and Internet Password.
- To begin, navigate to the EFTPS website at eftps.gov/eftps.
- Now, on the Homepage, you must select the Login option.
- To log in, enter your Taxpayer Identification Number (commonly known as TIN), PIN, and your account’s current Internet Password.
- The new EFTPS Internet Password you should create must meet the IRS’s most recent criteria. (The prerequisites have already been discussed.)
It is critical that you wait an hour after properly completing the process before sending the federal e-payment.
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Change the EFTPS Password for QuickBooks Online Users:
Following the steps outlined above, QuickBooks Online customers are not required to take any more action.
To change the EFTPS Password in QuickBooks, the change must be made on the EFTPS site. This EFTPS Internet Password update will be automatically reflected in QuickBooks Online. All you have to do now is enable QuickBooks to pay your taxes and file your tax forms on your behalf. Here’s how it’s done:
- You must sign in to your QuickBooks account.
- Then, from the menu bar in the upper left corner, select Taxes.
- The Payroll Tax option should then be selected.
- The next step is to edit your e-file and e-pay setup link by clicking the Edit button.
- Choose E-file and e-pay.
- Enter the states where you want to file your taxes.
- If an automatic bank connection option is shown, select it to automatically connect to the bank.
Another possibility is to link the bank account and routing numbers with QuickBooks.
Sign the authorisation documents electronically to authorise QuickBooks to pay your taxes on your behalf.
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Change the EFTPS Password for QuickBooks Desktop E-pay Users:
Users that have enrolled in QuickBooks Desktop and choose to use E-pay take a different procedure. To guarantee a smooth transaction, they must update the EFTPS Internet Password in QuickBooks Desktop. This modification must be made prior to making an e-payment for your taxes and liabilities. The following is the procedure for accomplishing the same:
- To begin, go to QuickBooks’ Payroll Center and select the Pay Liabilities button.
- To complete the e-payment, pick Federal responsibility from the Pay Taxes and Other Liabilities area.
- Then, click the View or Pay button and make sure that E-payment is selected.
- After checking the above, choose the E-pay option.
- You will also notice a checkbox on the page, which, if checked, will assist you in remembering given information for the next time. From a security standpoint, you should uncheck that checkbox.
- In the PIN section, enter the new 4-digit PIN followed by the EFTPS Internet Password.
- If you see any information that appears to be missing but is essential, you must fill in the spaces.
- Click the Submit button.
NOTE: (For the e-payment you make the next time, re-enter your new 4-Digit PIN and EFTPS Internet Password and click on Remember my Information for Next Time option) (For the e-payment you make the next time, re-enter your new 4-Digit PIN and EFTPS Internet Password and click on Remember my Information for Next Time option.)
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Hi, I am James Aaron, a professional Data recovery Engineer, working with Quickbooks Data Services as a consultant from the past five years in the USA. I am a specialized and trained Cloud consultant who helps small and medium-sized entrepreneurs. QuickBooks Closes Unexpectedly | QuickBooks Error H202 | QuickBooks Unrecoverable Error | QuickBooks Error 1712 | This Company File Needs to be updated | QuickBooks Restore Failed | QuickBooks Email not working | QuickBooks 2020 end of support