Electronic Federal Tax Payment System - EFTPS

It may look like someone getting off to a bad start on a typing test. But, in reality, "EFTPS" is the acronym the IRS landed on for its electronic tax payment system.

The letters stand for "Electronic Federal Tax Payment System." If, after figuring out your annual tax return, you end up owing money, the EFTPS provides a way to send the money without having to write a check.

If the people in the IRS's marketing department had thought about the acronym for five seconds, they could have called it the Federal Electronic Tax Settlement System, which would have shortened to FETSS. Not great, but at least something a person can pronounce.