The EFTPS orElectronic Federal Tax Payment Systemisa service provided by the U.S. Department of Treasury. This isa freeservice and is used by the IRS (Internal RevenueService) for employer tax payments. Whenyou getenrolled into this service , youareassigneda4-digit EFTPS PIN and password. Youwill needto submitthese details as your login credentials when you make e-payment of 941/944 and940tax forms.
TheQuickBooksapplication enables convenientandflexibletaxpaymentthrough the EFTPS. Also, forsomereason, if youwant tochange the EFTPS password ,you candoiteasilythroughQuickBooks .In this blog ,wewilldiscuss how can you changeyour EFTPS password inQuickBooks.
Whyshouldyou Change yourEFTPS Passwordin QuickBooks ?
Witheffect from24thofOctober ,2019 ,theIRShas madecertain important modificationsinitsrequirementsrelatedto passwordsfortheEFTPS .Youshould be fullyawareoftheseupdated requirementsand make changes accordingly . Here are theupdated requirements bytheIRS-
- The IRS has revised thepassword expiry duration policy and has set the sameto 13 months. Therefore, now you need to change the EFTPS Password atleast oncein every 13 months.
- Initially, the character limit of apassword wassetto 8-12 characters.Now , it has been set to the range of 12 to 30 characters. Therefore, while changing your EFTPS Password, makesurethe lengthofyour newpasswordshould bein the rangeof 12 to 30.
- The current password will remain effective even if you have changed it in the last 13 months.
Now thatyouknow whyyou needto changeyourEFTPS passwordinQuickBooks , wewilldiscusshowyou canactuallydoit .
Need Help Updating QuickBooks EFTPS Password?
Read Also-: To Setting Up Sales Tax in QuickBooks Online
Procedureto Change EFTPS Password in QuickBooks
Here is a step-by-step procedure to change your EFTPS Password in QuickBooks –
Total Time: 15 minutes
Step 1 : Upgrade your QuickBooks Software to the Latest Release
Before proceeding to change the EFTPS password in QuickBooks, you must check if your QuickBooks software is updated to the latest release . If not, you need to update by navigating to the Help menu. Here are the steps to follow-
🔷 Open QuickBooks Desktop
🔷 Log in to your account with admin credentials
🔷 Navigate to the Help section.
🔷 Now click on the Update QuickBooks Desktop tab.
🔷 Click on the Update Now button.
🔷 Make sure to check the box named Reset Update. This is to clear the downloads of previous updates.
🔷 Now click on the Get Updates button. The download will be initiated.
🔷 Wait till the downloading procedure gets completed. After this , restart the QuickBooks application.
🔷 You may be prompted to install the latest release you have just downloaded. Click on Yes to continue.
Step 2 : Download the QuickBooks Payroll Tax Table
Please follow the steps below-
🔷 Navigate to the Employees section.
🔷 Now click the Get Payroll Updates button.
🔷 Check the box named Download Entire Update.
🔷 Here, you will need to click on the Download Latest Updates tab .
🔷 After the download gets completed, restart the QuickBooks application.
Step 3 : Change the EFTPS Password from EFTPS Website
Before proceeding to change the password, make sure to keep your existing password, PIN and Tax Identification Number ( TIN ) for ready reference. Now follow the steps below to change your password-
🔷 Visit the EFTPS website by clicking on the URL- eftps.gov/eftps.
🔷 On the homepage, click on the Login button.
🔷 you will be prompted to provide the following details:
🔷 Current Internet Password
🔷 Now you can enter a new EFTPS Password. While doing so, please make sure to meet the latest IRS requirements discussed above.
After completing the steps above, you need to wait for an hour or so, before sending the federal e-payment.
Step 4 : Change the EFTPS Password from QuickBooks Desktop
Please follow the steps below-
🔷 Navigate to the Payroll Center section.
🔷 Click on the Pay Liabilities tab.
🔷 From the Pay Taxes and Other Liabilities section, select Federal Liability to electronic payment
🔷 Click on View /Pay.
🔷 Make sure to mark the Electronic Payment option, if not marked already.
🔷 Click on the Electronic Pay tab.
🔷 Clear the checkbox next to Remember My Information for Next Time option
🔷 Now , click on the PIN button. Here, you can enter the new 4-digit PIN.
🔷 Then, click on the EFTPS Password button.
🔷 If you see any of the details are missing, fill in the details.
🔷 Once done, click on the Submit button.
In the discussion above, we haveshownyouhowtochangeyour EFTPS passwordinQuickBooks.Youcan usethesequentialsteps mentioned above to changeyour EFTPS passwordinQuickBooks withease. Ifyouarestillgettinganydifficultyincarryingout thesestepsorifyouhaveanymorequeries ,youmay consult with someauthorizedQuickBooksexperts via live chat or call 1866-547-0606.
💠Frequently Asked Questions💠
How can I Change EFTPS Passwords in QuickBooks Online?
If you are a QB Online user and you have already changed the EFTPS Password in the website, you simply need to authorize QuickBooks to file tax forms and pay taxes on behalf of you . Here are the steps to follow-:
▪ Go to the Navigation menu
▪ Click on the Taxes menu.
▪ Click on Payroll Tax .
▪ Now, click on the option named Edit the Electronic file and Electronic pay setup.
▪ Next, click on Electronic file and Electronic pay.
▪ Select the states where you want to enroll in for tax filing.
▪ If you are prompted for Automatic bank connection , follow the on-screen instructions. This will enable you to connect to your bank quickly.
What is EFTPS?
The EFTPS or Electronic Federal Tax Payment System is a service provided by the U.S. Department of Treasury. This is a free service and is used by the IRS (Internal Revenue Service) for employer tax payments. When you get enrolled into this service , you are assigned a 4-digit EFTPS PIN and password. You will need to submit these details as your login credentials when you make e-payment of 941/944 and 940 tax forms.