Tax payments are submitted to a government entity, typically each quarter, to cover a User's taxes. All self-employed earners over a specific threshold are required to submit quarterly tax payments to the IRS. Failure to make quarterly payments may result in fines, penalties and/or interest owed.
When a federal tax payment is created for a user within Abound®, our system enrolls the individual with the Electronic Federal Tax Payment System (EFTPS). Abound® provides a digital record of the tax payment for your user, or 1040-ES, and guarantees the payment is transmitted securely.
Please be aware of the applicable dates and deadlines.
Updated 6 months ago