IRS Plan Would Simplify Paying Tax: Just Charge It
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WASHINGTON — The Internal Revenue Service is proposing allowing income tax payments by credit card to simplify the process of paying taxes, IRS Commissioner Lawrence Gibbs said today.
The IRS proposal, currently under consideration at the Treasury Department, would allow taxpayers to charge their tax bills much as they charge merchandise.
“We would charge your credit card account and then you would pay your credit card company,” Gibbs said on NBC-TV’s “Today” show.
Treasury Secretary James A. Baker III thinks the idea is a good one, Gibbs said.
The credit card system could also be employed by people who file quarterly estimated tax returns, Gibbs said.
“The details are presently still being worked out, but we would hope that we could eventually get to the point where you could use your credit card number simply to pay your estimated tax payments,” he said.
If approved, payment by plastic would not be possible for another year at the earliest, Gibbs said.
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