Millions of employers deposit federal, state and local income taxes electronically. In fact, some employers are required by law to deposit their federal taxes electronically. (See page 23 of IRS Publication 15, Employer's Tax Guide.) But the Electronic Federal Tax Payment System (EFTPS) can be used by anyone to make tax deposits or payments to the IRS, including individuals.

Why Would an Individual Want to Use EFTPS?

EFTPS can be used to pay any federal taxes, so any payments that are required by an individual can be made using the system. Required payments may include taxes due on an individual's Form 1040, Annual Individual Income Tax Return, or estimated tax payments on projected income. Estimated payments must be made on any income that is not subject to income tax withholding by an employer. This would include earnings from self-employment, interest, dividends, rents, alimony, prizes, etc.

If an individual expects to owe $1,000 or more in taxes for the tax year after withholding and refundable credits have been subtracted, the individual must make estimated tax payments using Form 1040-ES if either of the following conditions apply:

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