EFTPS - Financial Management Service - Department of the Treasury

SUMMARY ANDCONCLUSIONSClearly, EFTPS is early in the adoption curve for smallbusinesses and individuals. Building awareness andfamiliarity through educational efforts will be effectivein boosting the use of EFTPS. Specifically, increasingthe knowledge of, and comfort level with, the securityof both the EFTPS system and taxpayers’ personalinformation will likely overcome concerns stemmingfrom a lack of understanding.tremendous with an aggressive communicationsprogram. And the payoff is clear. As usage of thiselectronic payment method increases, the numberof paper payments processed will decrease, resultingin significant cost savings for the government. Taxprofessionals, small businesses and individuals willbenefit from greater accuracy, timeliness and efficiencyof tax payments.Also important to consider is the critical role of taxprofessionals. Tax professionals realize a sense ofaccomplishment when their clients view them as helpfuland perform their responsibilities well. Tax professionalsreport making recommendations on paymentissues to their clients, and the clients in turn reportthat they usually agree with the recommendations.Thus, encouraging tax professionals to educate theirclients on the benefits of electronic payment wouldlikely lead to greater use of EFTPS. At the same time,communicating directly with small businesses andindividuals will be important to gain trust and helpmotivate tax professionals to encourage their clients touse EFTPS.Acceptance of EFTPS could be facilitated if small businessesunderstand how the service will increase theirefficiency. Increased efficiency, as demonstrated in thevalues-based research, leads to a sense of control, securityand peace of mind concerning their businesses.Because familiarity is tied to favorability among allaudiences, the potential for growth in EFTPS usage is9