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Tax-Aside will obtain a unique personal pin code from the IRS for each
new subscriber. This pin code is required in order to view
your quarterly estimated tax payments at www.EFTPS.gov.
Other high-security automated Tax-Aside features are then employed to:
- Ensure the safety of the subscriber’s confidential enrollment information.
- Enable the escrow agent to set up an FDIC insured, interest-bearing escrow account in
each subscriber’s name, under the escrow agents master account at a major US Bank. This escrow
account
is where Subscribers accumulate the appropriate estimated tax due to the IRS.
- Enable the escrow agent to oversee weekly bank-to-bank ACH transfers: set-asides from
the Subscriber's current account into his/her newly-established estimated tax escrow account.
- Facilitate appropriate quarterly debits by the IRS, or return any amounts accrued to the
subscriber upon his/her request at any time, for any reason.
Features and functions:
- Calculate–affordable, frequent Periodic Estimated Tax: set-aside amounts.
- Schedule– specific dates to frequently set-aside these amounts, in a way that best matches
your income (weekly, bi-weekly, monthly, as cash is received, etc.).
- Notify – receive friendly set-aside reminders and statements via email.
- Recalculate– adjust these amounts when things change (finances often change).
- Facilitate – automatic debits, which are placed into your own estimated tax escrow account, and
submitted quarterly to the IRS by the escrow agent, or returned to the Subscriber at any time.
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