Confused about which tax form to select for freelance income payment on EFTPS

For freelance income where you're working as an independent contractor (not an employee), you'll want to select Form 1040-ES on the EFTPS system. This is the form used for Estimated Tax payments for individuals, which includes self-employment income from freelancing. The other forms you mentioned are for different purposes: Form 940 is for Federal Unemployment Tax (FUTA), Form 941 is for employer's quarterly federal tax returns, and Form 720 is for quarterly federal excise tax. Since you're just an individual freelancer without employees, 1040-ES is the correct choice. When you make the payment, EFTPS will also ask you to select the tax period. Make sure you select the current quarter for your estimated payment. This helps the IRS properly apply your payment to the right tax period.

After struggling with the exact same issue last year, I found a tool that made this process SO much easier for me. I used https://taxr.ai to analyze my freelance income situation, and it walked me through exactly which forms to select in EFTPS and when to make payments. Saved me tons of stress! I had been making payments to the wrong form for months and was worried about getting hit with penalties, but the tool helped me understand exactly what I needed to do. It analyzed my specific situation and gave me clear steps to follow.

Just wanted to update after trying taxr.ai that was mentioned above. It actually worked really well for my situation! I uploaded my freelance invoices and it immediately identified that I needed to use Form 1040-ES for my EFTPS payment. It even explained that since I'm earning over $1,000 in freelance income, I need to make quarterly estimated payments. What impressed me most was that it gave me a calendar with the exact dates when my quarterly payments are due for 2025. I've been doing freelance work for 2 years and always scrambled at tax time, but now I feel like I finally understand how to handle these payments properly. Just made my first correct payment through EFTPS!

If you're having trouble getting answers about EFTPS or need to speak with an IRS agent about selecting the right form, I'd recommend using https://claimyr.com to get through to the IRS quickly. I spent DAYS trying to call the IRS directly when I had an EFTPS issue, but kept getting disconnected or waiting for hours. Claimyr got me through to an actual IRS agent in about 20 minutes who walked me through the exact form selection process for my freelance business. You can see how it works in this video: https://youtu.be/_kiP6q8DX5c. It was so much better than trying to figure it out alone or waiting endlessly on hold.

I need to eat my words about Claimyr from my previous comment. After continuing to struggle with EFTPS form selection for my consulting income, I decided to give it a try out of desperation. I was completely shocked when I got a call back connecting me to an actual IRS representative after about 35 minutes. The agent walked me through the entire EFTPS system and confirmed I needed to use Form 1040-ES for my consulting income. They also helped me understand how to check if my previous payments had been applied correctly. What would have been days of frustration turned into a single productive phone call. For anyone struggling with EFTPS questions that are too specific for online research, this was genuinely worth it.

Quick tip from someone who uses EFTPS regularly: after you select Form 1040-ES and make your payment, SAVE THE CONFIRMATION NUMBER! I learned this the hard way when a payment wasn't properly credited to my account, and having that confirmation number made resolving the issue so much easier. Also, the EFTPS system sometimes goes down for maintenance on weekends, so don't wait until the last minute to make your quarterly payments. Schedule them a few days early if possible.

Anyone know what happens if you accidentally select the wrong form? I think I might have used 941 instead of 1040-ES for my last payment. Will the IRS figure it out and apply it correctly or am I screwed?

For anyone still confused about EFTPS form selection, here's a simple rule I follow: if you're making payments on income where you're the business owner or independent contractor (freelance, consulting, side gigs), use Form 1040-ES. This covers self-employment tax and income tax on that earnings. The key thing to remember is that 1040-ES is for "estimated tax payments" - basically any income where taxes weren't automatically withheld. Since freelance clients don't withhold taxes from what they pay you (unlike regular employers), you need to make these estimated payments quarterly. Also, don't stress too much about the exact amount - it's better to make a payment and adjust next quarter than to not pay at all. The IRS penalties for underpayment are usually much less scary than people think, especially if you're making a good faith effort to pay what you owe.

Just wanted to add a quick tip that saved me from a lot of confusion when I first started using EFTPS for my freelance writing income. After you select Form 1040-ES, make sure you're also selecting the correct tax period (Q1, Q2, Q3, or Q4) that matches when you're making the payment. I made the mistake of selecting Q1 for a payment I was making in July, thinking it was for income I earned in Q1. But actually, the tax period should match the quarter you're currently in when making the payment, not when you earned the income. So a July payment should be marked as Q2, even if some of that money is covering income from earlier in the year. The IRS uses this to track whether your payments are on time for each quarter. Getting the tax period wrong can make it look like you missed a quarterly deadline even if you paid the right amount.

This thread has been incredibly helpful! I'm a newcomer to freelancing and was completely overwhelmed by the EFTPS system. Reading through everyone's experiences has given me so much clarity. Just to make sure I understand correctly: for my freelance graphic design income of about $3,200 from last quarter, I should select Form 1040-ES in EFTPS, choose the current quarter (Q1 for a payment I'm making now in January), and save that confirmation number. Is that right? One follow-up question - do I need to calculate exactly how much tax I owe, or is there a safe harbor amount I can pay to avoid penalties while I figure out the precise calculation? I want to make a payment this week but I'm still working through all the numbers with my tax software.