You Can Make Money by Paying Your Taxes With a Credit Card — Here’s How
MoneyGeek.com September 5, 2023
Eric Chaimowitz Quoted
“What are the potential risks or downsides to paying taxes with a credit card?
There are a handful of downsides to using a credit card to pay taxes. Some of these downsides include:
- Fees: The IRS and most states have a fee for using credit cards to make payments. For example, if a taxpayer wants to use a credit card to make their federal tax payments, there will be an additional fee to do so, which may outweigh any benefits.
- Interest charges: If a taxpayer is not able to pay the balance due on their credit card by the due date, they will be subject to interest charges on the amount not paid. Interest charges add up quickly and, in almost all cases, will outweigh any credit card rewards one may receive.”