I registered my business and enrolled it on EFTPS. But nothing is happening...

[joel_creative]

Hi,

I registered my business around May 2022 (my 1st business) and enrolled it on EFTPS.

But nothing is happening when I check my EFTPS account. No withdraws... from IRS.

Did I miss something?

As it's approaching to the end of the year, I'm getting nervous T_T

Please somebody give me an advice.

Thanks,

Joel

[SteamTrain]

Not sure what you have done yet..

You have to arrange the withdrawal yourself ($$ amount, and date) from within your EFTPS account.  Did you do that?   Each withdrawal amount and purpose for that withdrawal (like specified as balance due for prior year, or quarterly estimate for the current year) is initiated by you within your EFTPS account.

SO did you do that  (making sure yoru bank account routing and account numbers are perfect)

......or are you somehow expecting eth IRS to automatically withdraw what you owe?

[joel_creative]

Thank you so much for the information!

I didn't arrange the withdrawal myself and thought it happens automatically.

I started my business this year, so there is no prior year information.

But for the income from this year, where should I look at to arrange it rightly?

I run an application in B2B platform and creating a passive income out of it.

(Maybe, I should be asking this question to tax professional)

[SteamTrain]

After you log in to EFTPS, there is a tab up along the top to click on that says "Payments", and you proceed from there.

________________________

The issue that I'm not conversant in, is that during the login, you use either yoru Business EIN, or your SSN during the login process.      And I'm not sure exactly which way you need to proceed....because I'm not conversant with business tax situations.......and it might depend on whether you are a single owner LLC....or some other type of business entity (partnership LLC, C-corp, S-Corp)   none of which are anything I know how to properly deal with ,as I've only used EFTPS for many years only for my personal taxes.

Yeah, a detailed discussion now with a local tax professional would be in order (while things are relatively quiet) , especially for the first year you are in operation.

[Critter-3]

So you set up your access to the EFTPS system ... Yippie !!!

Now you need to make the needed payments ... log into the account and make the correct payment for whatever you need to pay like payroll taxes.   If you were used to making personal quarterly payments then you need to pay them thru your personal IRS account/SS# and not the business EIN.