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Video instructions and help with filling out and completing Where 940 Schedule Return

Instructions and Help about Where 940 Schedule Return

Hi and thank you for watching this is Michael huazi from summer associates tax services in Stamford Connecticut summer tax com in this video we will be demonstrating how to use the electronic federal tax payment system to make a federal tax deposit as of January 1st 2022 the IRS requires most businesses to pay their federal tax electronically we hope this video will make it easier for you to use the EFTPS method of payment feel free to review this video as you may need it will be archived online for your future viewing now let's begin the first step is to go to EFTPS gov top right hand corner click on login brings you to the login screen here you will add your employee identification number or your federal identification number so you'll put that in top the top field here next you'll put your pin which is which you'll find on the letter that acknowledges completion of your enrollment with the EFTPS and your internet password which you will reset after being assigned a temporary password by EFTPS you'll then click login and you'll be brought to the welcome screen here you see hello summer associates and now you will click on payment the middle option in the top menu bar here you will be brought to the selections for tax forms and you want to be careful here you want to only put in one or the other you do not want to do both here I'm going to show you an example of why if you put 941 and use the drop down you'll get a warning an error so you want to make sure that you either type it in the tax form 941 above or you use to select a tax form from the drop down menu and select a 941 with nothing in the top field and then click Next this brings you to the tax type selection you will select federal tax deposit and then click Next again this brings you to the business tax payment page where you will put in the amount for your payment you want to take a look here at the example of the formatting make sure that you have the format exactly as they show in the example then you will select your month of the quarter and then the year and the settlement date or the date that you want the payment to be presented to your account and this is just showing you a warning if you do not properly use the format that they want you to for the payment amount here I just wanted to show you what happens you'll get another warning and then you'll have to re-enter the format correctly and then click Next this brings you to the subcategory page you can basically just put the payment amount that you see above in that third field where tax withholding is just as you see it above and then it brings you to then you hit next and it brings you to verify payment information here you just want to make sure all the details are are correct the settlement date the the quarter the amount and then you will click make payment okay this is a confirmation of your deposit here you can either print to your printer or you can save it as a PDF that both these options are here at the bottom this completes the payment process you'll have a confirmation of your payment and the next step that I want to show you is how to check your payment history on the left hand side you'll see this column with the option check payment history which will bring you to screen you can go back 30 90 180 365 days a maximum of 16 months to see the status on all payment now to logout you simply go to logout on the top right hand corner of your screen and will successfully log you out and you hit accept thank you again for watching and of course if you have any questions feel free to give us a call at 203 327 4 3 1 1 if you enjoyed this demonstration you may want to check out the many resources that are available to our clients on our website that's ww tax calm there you may find our newsletter which is a monthly newsletter that we send out which is filled with exciting tax tips as well as many other resources and we always encourage our clients to share with their friends through myriad of social networks including Facebook Twitter and our WordPress blog thank you and have a wonderful day.

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