Don’t Forget the Credit Card Convenience Fee When Charging Taxes

creditcard 150x150 Dont Forget the Credit Card Convenience Fee When Charging TaxesIf you plan to charge your income taxes to your credit card, remember to factor in the convenience fee, says lifehacker.

Many people often find that they actually owe the government money and will choose to charge it to their credit card. A convenience fee will be added, and it can add up. For instance, a fee of $9.40 will be added to a $400 tax bill, while $117.50 will be charged to a $5,000 tax bill. In addition, if the fee is not paid within the credit card issuer’s grace period, interest will be charged as well.

On the bright side, the IRS does have an installment-payment plan (which requires qualification).

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About Veronica Brown

I am currently the Marketing Communications Intern for the Council of Better Business Bureaus in Arlington, VA. Originally from Seattle, I am currently a student in Washington, D.C. studying International Affairs. In my spare time, I enjoy volunteering around the city, exploring the East Coast and keeping up with politics.