If you owe money to the IRS this year, you’re probably holding off on sending in that payment. After all, it’s not like you get a bonus or save on your finance charges if you wait until the last minute, right?
Despite the general consensus that charging your tax bill is a bad idea, a large number of people jumped on the opportunity to pay with plastic last year. I will admit, I looked into it too. After all, I thought, I could pay my taxes and take advantage and maybe get some reward points out of the deal. When I found out about those extra fees, though, it suddenly looked like a horrible idea. So, I just went the old-fashioned route and sent out a check.
Apparently, quite a few people didn’t agree with me and they decided it was worthwhile to do it that way. The IRS reports that a staggering 2 million people decided to pay their taxes with their credit cards, amounting to a 36% increase over the number of people that paid this way in 2005.
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