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EFTPS: Electronic Federal Tax Payment System Definition

February 11, 2015

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Term Definition
EFTPS (Electronic Federal Tax Payment System) is a free service provided by the U.S. Dept. of the Treasury. It enables taxpayers to pay taxes through telephone or the internet.

Extended Definition
EFTPS is an abbreviation for Electronic Federal Tax Payment System. It is a service aimed at facilitating the process of federal tax payments. It allows both individuals and businesses to pay taxes either online or through telephone. The service is available round the clock, seven days a week. Compared to making tax payments in person or by mail, EFTPS is much more convenient and quick. The service is offered by the U.S. Dept. of Treasury.

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