IRS Tax Payment options - EFTPS | EFW

The federal tax for heavy vehicle uses on the public highways is an annual tax paid fully in advance for the whole year to the IRS through form 2290. If you are e-filing form 2290 online, the tax amount can also be paid online using the IRS-approved online payment methods. Online payment is the most secure, simplest, and quickest way to pay form 2290 tax dues to the IRS. However, you need to ensure that you pay your tax form 2290 on time to avoid late fees and penalties from the IRS.

The IRS approved online payment methods for form 2290 e-filing process are,

Electronic Funds Withdrawal (direct debit)
Electronic Federal Tax Payment System (best option to pay form 2290 online)
Credit Card or Debit Card (newly introduced for IRS 2290 payment)
Check or Money Order (payment voucher)

Electronic Funds Withdrawal (EFW)

Electronic Funds Withdrawal (EFW) is the best method to pay for your HVUT form 2290 returns to the IRS. This method is also called ‘Direct Debit,’ which allows you to pay your form 2290 tax due amount directly from your checking or savings account of your bank. You need to provide your bank details, account number, Bank Routing Transit Number (RTN), and authorize the payment for direct debit while e-filing your form 2290 road tax.

Electronic Funds Withdrawal (EFW) is an integrated online paying option offered only when e-filing HVUT form 2290 through e-filing service providers or a tax professional. You may submit one or more payment requests for direct debit from your designated bank account using the EFW payment method.

Features and Benefits of Electronic Funds Withdrawal

It is convenient for individual taxpayers and business filers to process the 2290 tax payments in a single step.
IRS doesn’t charge any additional fees for using the EFW payment method.
Paying online using EFW eliminates the need to submit a voucher.
It offers a safe and secure mode of payment. All your personal, business, and transaction details are protected by strong encryptions and used only on proper authorization from the concerned personnel.
The EFW transaction authorizes the U.S. Department of Treasury (through a treasury financial agent) to transfer the specified payment amount from the specified bank account to the Treasury’s account.
‘IRS USA Tax Payment’ or something similar will be shown in your bank statement as proof of payment.
If the payment is requested on the weekend or a public holiday, the payment will be withdrawn on the next working day. In this case, your bank may put your funds on hold and treat it as a pending transaction.
The payment amount will be debited at once in a single transaction. IRS doesn’t make recurring or partial withdrawals of your form 2290 tax amount.

Electronic Federal Tax Payment System (EFTPS)

The Electronic Federal Tax Payment System (EFTPS) is a federal tax payment service provided for free by the United States Department of Treasury through a highly secure and encrypted government website. Individuals, businesses, federal agencies can pay their taxes electronically online using the EFTPS. You should enroll and get your credentials to use the EFTPS method to pay your tax dues to the IRS. First of all, the IRS will validate your information if you enroll for the first time. After this validation process, you will receive a Personal Identification Number (PIN) through U.S. mail to your registered address in five to seven business days.

Features and benefits of Electronic Federal Tax Payment System (EFTPS)

EFTPS is a quick, secure and precise payment method for your form 2290 tax returns payments
Online payments usually require three pieces of information for authentication like an Employer Identification Number (EIN) or a Social Security Number (SSN), a Personal Identification Number (PIN), and an Internet Password to complete the form 2290 payments. Phone payments require your PIN and EIN/SSN to complete your form 2290 tax due payments.
EFTPS is available 24/7, all day and every day, for processing your tax payments online.
EFTPS offers you better convenience and flexibility for paying your form 2290 payments with your personal computer and smartphones.
Individuals and businesses can schedule your form 2290 payments up to 365 days in advance with EFTPS. If you want to cancel or modify your EFTPS scheduled payments, you must do it two business days before your scheduled due date.
You must submit the payment by 8 PM EST on the day before the due date while using the EFTPS payment method.
Your payment history will show the federal tax deposits and the payments made through EFTPS. It will not show the payments made by any other methods like EFW or credit/debit cards.

Credit Card or Debit Card

IRS included the credit/debit card payment methods for paying form 2290 tax payments and dues few years back. You can use credit cards or debit cards like American Express, VISA, Master Card, or Discover Cards to pay your form 2290 HVUT dues online. Your payment will be processed by a service provider or a licensed payment processor who will charge a processing fee based on your overall tax amount. The processing charges vary from one service provider to the other, and you are advised to choose accordingly. Usually, you will be charged 2% of your total 2290 tax amount as service fees by the licensed payment processor.

Features and benefits of Credit/Debit Card payments

IRS accepts all major credit/debit cards. You can process the form 2290 tax payment using your smartphones, personal computers, or through any e-filing service.
You can authorize the transaction quickly. To complete the transaction, you need not have any enrollments, additional PINs, or payment vouchers.
This method offers immediate payment to the IRS. Your payment will be credited to the IRS on time, and it eliminates the chances of late payments, penalties, and other charges.

Check or Money Order payments

If you choose to pay for form 2290 payments through a check or a money order form, you have to ensure that,

Check, cashier’s check, or money order should be made payable to the U.S. Treasury.
Enter the amount using numbers (E.g., 123456)
Do not use paper clips or staples to affix your payment form to your voucher or return.
Check, or money order should include your name and address, daytime phone number, Employer Identification Number (EIN), tax year, and related tax forms.
Mail your payment form to the address listed on the notice or instructions

IRS gave all these payment options to make your truck tax payment quicker, easier, and much safer than any other conventional method. EFW method is highly recommended for the taxpayers because IRS will detect the due tax amount directly from the taxpayers’ bank account without any delay. EFTPS is a more secure way to make form 2290 payments because the federal government offers it. Credit/debit card method pay incurs extra charges as convenience fees for the respective service providers. Check, or money order method needs a voucher attached to the actual payment form. So, it’s up to you to decide the best method to pay your truck taxes to the IRS without missing out on any deadlines or due dates.

FAQs

What is the quickest way to pay my form 2290 tax dues to the IRS?

Electronic Funds Withdrawal (EFW) is the quickest, easiest and safest way to pay your truck taxes online with the IRS. This method does not require any previous enrollments, vouchers, or other convenience fees to process your payments. IRS will directly debit your tax due amount from your registered bank account.

Do I need to enroll with EFTPS to pay for my form 2290 tax returns?

Yes, you should enroll and get the proper credentials from the Federal Government to use the Electronic Federal Tax Payment System (EFTPS). Then, the government will validate your information and allot you a personal identification number (PIN) to use the EFTPS system. You will get the PIN through the U.S. mail from five to seven business days of your enrollment with the EFTPS. Then only you will be able to use the EFTPS service for the tax payments.

IRS Form 2290 Tax Payment