FSS Newsletter - October 2014 

Electronic Federal Tax Payment System (EFTPS)

Have you enrolled in the U.S. Department of Treasury's free electronic payment service? If not, you may consider enrolling to take advantage of this free and convenient service.

What is EFTPS?

EFTPS is a system for paying all federal taxes electronically using the Internet, or by phone using the EFTPS Voice Response System. Since it began in 1996, over 12 million businesses, individuals, federal agencies, tax professionals, and payroll services have enrolled to use EFTPS.

How do I Enroll?

Click on Enrollment at the top of the EFTPS webpage and follow the steps. After your information is validated with the IRS, you will receive a personal identification number (PIN) via U.S. Mail in five to seven business days. You must be enrolled to use the EFTPS tax payment service.

Am I Required to Use?

All businesses are required to pay all federal employment taxes with the EFTPS. Additionally, all corporations must use EFTPS to make all federal tax deposits (such as deposits of employment, excise, and corporate income tax). This includes installment payments of estimated tax.

Please contact our office if you have any questions about EFTPS. 

Do You Need a Business Valuation?

"How much is my business interest worth?" This question is not one that is easily answered and often arises for a variety of reasons. The answer depends on many different factors. A business valuation considers all of these factors and gives you an objective estimate of the value of your business.

Freemon, Shapard & Story provides business valuation services for a variety of objectives, such as:

• Mergers, Acquisitions and Sales

• Buy-Sell Agreements

• Estate, Gift and Income Taxes

• Marital Dissolution

• Financing

• Litigation Support (including expert testimony)

• Shareholder Disputes 

We have two credentialed valuators, Ryan Cannedy and Lauren Welch, that can prepare valuation reports and provide consultation for any of these reasons. In addition to being CPAs, Ryan and Lauren both hold Certified Valuation Analyst (CVA) credentials through the National Association of Certified Valuators and Analysts (NACVA).

If you have any valuation needs or inquiries you would like to discuss in more detail please feel free to contact us.

Ryan Cannedy, CPA, CVA	Lauren Welch, CPA, CVA

Sincerely yours,