When you use EFTPS to pay estimated taxes from your bank account, you have to specify the date on which it is to be paid. Say your estimated tax payment is due in January 15. If you specify January 15th as the payment date, will that payment be considered on time? Since it's an ACH transaction they may not actually have the funds until a few days later. So will they count it as late or on time?
Making federal tax payments using EFTPS
Jan 26, 2019
3 Replies
In article you write:
Yes. They credit you on the scheduled date of the transaction. I've used it for a couple of years. You do have to schedule it a day or two ahead; you can't log in on the 15th and schedule something for the same day.
It's the same general idea as crediting a check on the date it's mailed, not the date it's cashed.
replying to John Levine, Ryan wrote: Thank you. Do you know if you can pay from a savings account, or does it have to be a checking account?
replying to John Levine, Ryan wrote: I found the answer to my previous question. You can use either a checking account or a savings account to make payments.
Thank you for your help!
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