In an attempt to become more user-friendly, the US Treasury Department is today launching an updated version of its online tax filing and payment system. The new program attempts to make paying taxes similar to online banking, as taxpayers will be able to deduct quarterly payments from bank accounts, as well as check the status of those payments over the Internet.
The system, which will be available for both corporate and individual taxpayers, will also allow users to check their tax status online and have quarterly estimated taxes deducted directly from their bank accounts. The previous system was cumbersome and unpopular, used by just under 2 million companies and just 12,500 individuals, and required taxpayers to use special software and dial into the Treasury's computer system.
'This offers direct access for the first time,' said Deputy Treasury Secretary Kenneth Dam. 'We are, amazingly enough, real leaders in various aspects of e-government.' Mr Dam announced the launch of the new service, available from the website of the Electronic Federal Tax Payment System, in his first interview (with the Wall Street Journal) since taking office last month.
Kenneth Dam was sworn in as Deputy Secretary of the Treasury on 3rd August, after being unanimously confirmed by the Senate the same day. Mr. Dam has been the Max Pam Professor of American and Foreign Law at the University of Chicago Law School, a position from which he is now on leave of absence. His prior government positions include Deputy Secretary of State (1982-85) and Executive Director of the White House Council on Economic Policy (1973). In addition to his duties as deputy secretary, Dam will also handle the treasury's technology matters and act as the department's representative to the White House National Security Council.
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