Difference between Direct Pay and EFTPS?

Last modified 9/2/2024 9:53:27 AM EST

The difference between EFTPS and Direct Pay (the IRS's other electronic payment tool) is simple. EFTPS allows both individuals and businesses to pay federal taxes, while Direct Pay is available only to individuals. Additionally, EFTPS has a payment limit of $50 million per transaction, while Direct Pay has a cap of $10 million.