Comments on: Should You Pay Your Taxes With a Credit Card? http://www.fivecentnickel.com/2008/02/04/should-you-pay-your-taxes-with-a-credit-card/ personal finance tips, tricks, and commentary Sun, 22 Nov 2009 03:39:46 -0500 http://wordpress.org/?v=abc hourly 1 By: Amy K. http://www.fivecentnickel.com/2008/02/04/should-you-pay-your-taxes-with-a-credit-card/comment-page-1/#comment-115140 Amy K. Fri, 08 Feb 2008 02:28:42 +0000 http://www.fivecentnickel.com/2008/02/04/should-you-pay-your-taxes-with-a-credit-card/#comment-115140 D'oh, nevermind, I just saw that the flat fee is for ATM/Debit cards only, and neither of mine have a rewards program associated. It pays to read the fine print first, oops! D’oh, nevermind, I just saw that the flat fee is for ATM/Debit cards only, and neither of mine have a rewards program associated.

It pays to read the fine print first, oops!

]]> By: Amy K. http://www.fivecentnickel.com/2008/02/04/should-you-pay-your-taxes-with-a-credit-card/comment-page-1/#comment-115139 Amy K. Fri, 08 Feb 2008 02:24:51 +0000 http://www.fivecentnickel.com/2008/02/04/should-you-pay-your-taxes-with-a-credit-card/#comment-115139 For me, I'll come out ahead by paying one of the <a href="http://www.irs.gov/efile/article/0,,id=101316,00.html" rel="nofollow">Flat fee</a> options rather than a percentage. I owe just under $500, so a $2.96 fee beats the $12.45 through OfficialPayments.com or pay1040.com. For me, I’ll come out ahead by paying one of the Flat fee options rather than a percentage. I owe just under $500, so a $2.96 fee beats the $12.45 through OfficialPayments.com or pay1040.com.

]]> By: nickel http://www.fivecentnickel.com/2008/02/04/should-you-pay-your-taxes-with-a-credit-card/comment-page-1/#comment-115112 nickel Thu, 07 Feb 2008 13:50:24 +0000 http://www.fivecentnickel.com/2008/02/04/should-you-pay-your-taxes-with-a-credit-card/#comment-115112 Auditor: The additional fee is levied by the payment processor, and it's 2.49%. That's it. There are no further fees. Obviously, for a "normal" reward card that gives 1% on things like this, you're still being the eight ball. But if you have a card paying in the 3-5% range, then you can effectively shave a bit off your tax bill. Auditor: The additional fee is levied by the payment processor, and it’s 2.49%. That’s it. There are no further fees. Obviously, for a “normal” reward card that gives 1% on things like this, you’re still being the eight ball. But if you have a card paying in the 3-5% range, then you can effectively shave a bit off your tax bill.

]]> By: Auditor http://www.fivecentnickel.com/2008/02/04/should-you-pay-your-taxes-with-a-credit-card/comment-page-1/#comment-115111 Auditor Thu, 07 Feb 2008 13:47:22 +0000 http://www.fivecentnickel.com/2008/02/04/should-you-pay-your-taxes-with-a-credit-card/#comment-115111 I know there is an additional fee you pay the IRS if you use a credit card to pay. I don't remember how much, or maybe it's a percentage. This could put a little rain on the Citi parade. I know there is an additional fee you pay the IRS if you use a credit card to pay. I don’t remember how much, or maybe it’s a percentage. This could put a little rain on the Citi parade.

]]> By: nickel http://www.fivecentnickel.com/2008/02/04/should-you-pay-your-taxes-with-a-credit-card/comment-page-1/#comment-115110 nickel Thu, 07 Feb 2008 13:41:02 +0000 http://www.fivecentnickel.com/2008/02/04/should-you-pay-your-taxes-with-a-credit-card/#comment-115110 Brandon: I suspect that will vary widely based on things like credit score, income, etc. Brandon: I suspect that will vary widely based on things like credit score, income, etc.

]]> By: Brandon http://www.fivecentnickel.com/2008/02/04/should-you-pay-your-taxes-with-a-credit-card/comment-page-1/#comment-115109 Brandon Thu, 07 Feb 2008 13:09:55 +0000 http://www.fivecentnickel.com/2008/02/04/should-you-pay-your-taxes-with-a-credit-card/#comment-115109 How large of a credit limit does Citi give you for this card? Just curious if it is high enough to make it usable. How large of a credit limit does Citi give you for this card? Just curious if it is high enough to make it usable.

]]> By: Ron@TheWisdomJournal http://www.fivecentnickel.com/2008/02/04/should-you-pay-your-taxes-with-a-credit-card/comment-page-1/#comment-115019 Ron@TheWisdomJournal Tue, 05 Feb 2008 04:38:44 +0000 http://www.fivecentnickel.com/2008/02/04/should-you-pay-your-taxes-with-a-credit-card/#comment-115019 2.51% would be great, but does Citi turn around and 1099 you for it next year? :) 2.51% would be great, but does Citi turn around and 1099 you for it next year? :)

]]> By: livingalmostlarge http://www.fivecentnickel.com/2008/02/04/should-you-pay-your-taxes-with-a-credit-card/comment-page-1/#comment-115016 livingalmostlarge Tue, 05 Feb 2008 03:48:54 +0000 http://www.fivecentnickel.com/2008/02/04/should-you-pay-your-taxes-with-a-credit-card/#comment-115016 Is the fee really so small? That's what has stopped me in the past. Is the fee really so small? That’s what has stopped me in the past.

]]> By: SavingDiva http://www.fivecentnickel.com/2008/02/04/should-you-pay-your-taxes-with-a-credit-card/comment-page-1/#comment-115010 SavingDiva Mon, 04 Feb 2008 21:36:19 +0000 http://www.fivecentnickel.com/2008/02/04/should-you-pay-your-taxes-with-a-credit-card/#comment-115010 I managed to get a tax refund this year (~$200 federal, ~$250 state). However, if I did owe taxes, I don't think I would put it on my credit card...it's a very rare card that the cash back would make it worth it. Also, I would worry about paying it off.... I managed to get a tax refund this year (~$200 federal, ~$250 state). However, if I did owe taxes, I don’t think I would put it on my credit card…it’s a very rare card that the cash back would make it worth it. Also, I would worry about paying it off….

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