EFTPS (electronic federal tax payment system)

Sep 26, 2009 1 Replies

question related to use of EFTPS:



recently created company, registered with state, assigned EIN (employer identification number)



company will not have any income, until the principal director gets a job



would it still be prudent to activate EFTPS immediately as US Treasury expects Federal Tax Deposits from bank account, but the business bank account has no funds ?



another way of asking the same question is that if EFTPS is activated and no Federal Taxes are deposited due to no income, will that cause some sort of issue with the department of the Treasury ?



creation of company, filing with IRS (as S-Corp) was/is a requirement of the local businesses who would offer jobs to the new medical field graduate who is the company director.


No problem. If you don't need it, don't activate it now. There is no federal requirement to do so.

When you eventually do need it, you'll start the process again, but the registration procedures are not burdensome atall.

ChEAr$, Harlan Lunsford, EA n LA

Join the Discussion

Have something to add? Share your thoughts — no account required.

Didn't find your answer?

Ask the community — no account required