Alternatives to Credit Card Payment
If the cost of convenience fees or the potential for accruing credit card debt make you hesitant, there are other ways to pay your IRS taxes:
- IRS Direct Pay: Link your bank account directly to the IRS system for free and secure payments.
- Electronic Federal Tax Payment System (EFTPS): This free service is ideal for businesses and individuals who make regular tax payments.
- Check or Money Order: Traditional payment method. Make the check or money order payable to “United States Treasury” and include your Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN), tax year, and relevant form number.
- Payment Plans: If you cannot pay your tax bill in full, the IRS offers payment plans (installment agreements). There might be setup fees and interest charges associated with this option.
Can You Pay IRS With Credit Card?
If you find yourself scrambling to meet a tax deadline, you might wonder if you can quickly pay your IRS bill using a credit card. The answer is yes – the IRS does allow credit card payments. It offers convenience and the potential to rack up credit card rewards points. However, before you swipe that card, there are some important things to consider.
Convenience comes at a cost. Credit card payments incur processing fees, and depending on your tax bill, those fees can add up. In this article, we’ll guide you through how to pay your IRS taxes with a credit card, the associated fees, and help you decide if this payment option is the right choice for you.
Table of Content
- How to Pay IRS Taxes with a Credit Card?
- Cost of Convenience: Processing Fees
- Is It Worth It? Weighing Pros and Cons
- Alternatives to Credit Card Payment
- Conclusion