How to Pay Federal Taxes by Credit Card
If you are in the position where you need to pay federal taxes at the end of the year, you may find yourself overwhelmed by the amount. You could have estimated wrong and did not set aside enough money to pay the taxes, or an emergency expense caused you to dip into the funds. Whatever the case, the Internal Revenue Service permits taxpayers to use a credit card to pay their taxes.
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Instructions
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Prepare your federal income taxes. You can pay the federal taxes instantly with your credit card when e-filing by entering in your credit card information. However, paper filing allows you to delay when you need to use your credit card to pay the taxes.
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Log on to one of the IRS-approved electronic payment providers. You can find a listing on the IRS website. Pay1040.com is the most widely used to pay federal taxes with a credit card. You can pay on the website or by calling the toll-free number (1-888-729-1040) with your credit card information ready. For credit card payments, you will have a percentage of the amount that you pay charged to your credit card as well.
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Pay a flat fee if you use a debit card or ATM card. The same electronic payment companies will process your payment to the IRS using a debit or ATM card instead of a credit card. The fee is typically less than $5.
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Give the company all of the relevant information to pay your federal taxes by credit card. You need to select the tax form type, form year, amount, Social Security number, name, address and credit card information. You will then agree to have the company release the funds to the U.S. Treasury. Save a copy of your electronic receipt with your tax records.
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Make payments to your credit card provider. Once the transaction is complete, you will need to pay your credit card company for the payment made to the IRS. Make sure to pay the debt off as soon as possible because it will be subject to finance charges.
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