EFTPS Law and Legal Definition

EFTPS refers to the Electronic Federal Tax Payment System. It is a system of tax payment provided free by the U.S. Department of Treasury that allows citizens to pay their taxes through telephone or internet twenty-four hours a day, seven days a week. EFTPS was started in 1996. This service can be availed by individuals as well as businesses. The payments can also be scheduled in advance. Currently, around ten million tax payers use EFTPS.