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Using Plastic to Pay Taxes?

March 23, 2011

Using your credit card to pay your IRS tab at authorized Web sites, such as http://www.payusatax.com and http://www.pay1040.com, triggers a charge of up to 2.35% on top of your payment. If your tax bill is $4,000, for example, that’s an additional $94.

How to avoid these fees: These vendors are passing along the credit-card processing fee charged by VISA, Master Card, Discover and American Express. (The IRS doesn’t share any of the revenue.) You can pay with a debit or ATM card for less than $4, but a better option is to let the IRS debit your bank account (you need to supply your bank’s routing number and your account number). And the IRS doesn’t charge any extra fee.

Source:
Clergy Financial Resources
http://www.clergytaxnet.com

Clergy Financial Resources is a national accounting and finance organization serving churches and clergy since 1980. They have an unparalleled tax expertise on the complex issues associated with clergy tax law, clergy taxes, clergy compensation and church payroll. Clergy Financial Resources is a valuable resource for clergy, churches and denominations.

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From → Clergy Tax Law

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