Electronic Federal Tax Payment System (EFTPS®)
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Automate Federal Tax Payments

Save time by linking your Working Capital Management Account® (WCMA® account) to the Internal Revenue Service’s Electronic Federal Tax Payment System (EFTPS). You can pay federal taxes – including payroll, non-payroll and income taxes – by phone or online. Earn interest or dividends up until the day you submit your payments.

  • Keep your funds working until tax deadlines
  • Earn interest or dividends until the day you need to submit your taxes
  • Save time by automating recurring and non-recurring tax payments

For more information or to designate your WCMA account as your debit account, call EFTPS customer service at (800) 945-8400 or visit EFTPS Online at http://www.eftps.com/.

Frequently Asked Questions About EFTPS

Is the Working Capital Management Account® (WCMA® account) compatible with the Electronic Federal Tax Payment System (EFTPS) offered by the Internal Revenue Service?

Yes, the WCMA account is fully compatible with Electronic Federal Tax Payment System (EFTPS). When enrolling in the service, elect “ACH Debit Method” and designate your WCMA account as your debit account. Your WCMA account will be debited each time you call in and authorize a tax payment.

How long does it take to set up the Electronic Federal Tax Payment System (EFTPS) service?

Once the enrollment forms are submitted, it takes approximately 6 to 8 weeks to establish the service.

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Merrill Lynch, Pierce, Fenner & Smith Incorporated is a registered broker-dealer, not a bank and the WCMA account is not a bank account. Banking services are provided by licensed banks or by third parties through arrangements with licensed banks. Unless otherwise indicated, investment products are not FDIC-insured, not guaranteed by a bank and may lose value.

Working Capital Management Account and WCMA are registered service marks of Merrill Lynch & Co., Inc.

EFTPS is a registered trademark of Electronic Federal Tax Payment Systems.