EFTPS (electronic federal tax payment system)

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Subject Author Date EFTPS (electronic federal tax payment system) jack 09-26-2009  Re: EFTPS (electronic federal tax payment system) HLunsford 09-27-2009
Posted by jack on September 26, 2009, 7:52 pm Please log in for more thread options question related to use of EFTPS: recently created company, registered with state, assigned EIN (employer identification number) company will not have any income, until the principal director gets a job would it still be prudent to activate EFTPS immediately as US Treasury expects Federal Tax Deposits from bank account, but the business bank account has no funds ? another way of asking the same question is that if EFTPS is activated and no Federal Taxes are deposited due to no income, will that cause some sort of issue with the department of the Treasury ? creation of company, filing with IRS (as S-Corp) was/is a requirement of the local businesses who would offer jobs to the new medical field graduate who is the company director. -- << ------------------------------------------------------- >> << The foregoing was not intended or written to be used, >> << nor can it used, for the purpose of avoiding penalties >> << that may be imposed upon the taxpayer. >> << >> << The Charter and the Guidelines for submitting posts >> << to this newsgroup as well as our anti-spamming policy >> << are at www.asktax.org. >> << Copyright (2007) - All rights reserved. >> << ------------------------------------------------------- >> Posted by HLunsford on September 27, 2009, 1:41 pm Please log in for more thread options jack wrote: > question related to use of EFTPS: > > recently created company, registered with state, assigned EIN (employer > identification number) > > company will not have any income, until the principal director gets a job > > would it still be prudent to activate EFTPS immediately as US Treasury > expects Federal Tax Deposits from bank account, but the business bank > account has no funds ? > > another way of asking the same question is that if EFTPS is activated > and no Federal Taxes are deposited due to no income, will that cause > some sort of issue with the department of the Treasury ? > > creation of company, filing with IRS (as S-Corp) was/is a requirement of > the local businesses who would offer jobs to the new medical field > graduate who is the company director. > No problem. If you don't need it, don't activate it now. There is no federal requirement to do so. When you eventually do need it, you'll start the process again, but the registration procedures are not burdensome atall. ChEAr$, Harlan Lunsford, EA n LA -- << ------------------------------------------------------- >> << The foregoing was not intended or written to be used, >> << nor can it used, for the purpose of avoiding penalties >> << that may be imposed upon the taxpayer. >> << >> << The Charter and the Guidelines for submitting posts >> << to this newsgroup as well as our anti-spamming policy >> << are at www.asktax.org. >> << Copyright (2007) - All rights reserved. >> << ------------------------------------------------------- >> Similar Threads Posted reentering system October 11, 2007, 10:20 pm Re: reentering system October 13, 2007, 11:06 pm Re: reentering system October 16, 2007, 1:19 am Re: reentering system October 17, 2007, 11:43 pm Filing Late - What is quckest way to get 2006 return into the system May 16, 2008, 9:07 am Claim home warranty, alarm system, or credit card interest? March 26, 2008, 12:18 pm Electronic payments October 4, 2008, 3:34 pm Electronic and Paper W4 December 4, 2008, 1:30 pm Electronic Filing via Turbotax March 3, 2009, 11:46 am Question about IRS and electronic documents August 16, 2009, 1:20 am