Taxation & Estate Planning

Pay Your Taxes Online with Credit Card

By Darrin Mish

Next year, you can now pay your taxes online like the way you make purchases from an online catalogue. The IRS will be implementing some value added services to make it easier for you to pay your taxes. Using your credit or debit card, you can actually pay your tax thanks to RBS WorldPay Inc.

The IRS has announced that it has awarded a contract to RBS WorldPay Inc. to supply the technological systems that will enable it to provide electronic payment options to individual and business taxpayers. The contract is for an undisclosed number of years.

RBS WorldPay will partner with another company, Value Payment Systems LLC. to accept payments of taxes through www.payUSAtax.com and 888-9-PAY-TAX (1-888-972-9829) starting from January 1, 2010. Using this option of payment, you can use your credit or debit card and other methods of payment implemented for less than any other federal tax electronic payment system provider.

Here are the various types of tax you can pay for if you are an individual taxpayer when this system goes online:

• Form 1040 Series (including Prior Year payments)
• Estimated Taxes (Form 1040ES)
• Installment Agreement Payments
• Form 4868 (Tax Extension)
• Trust Fund Recovery Penalty
• Form 1040X (Amended Tax Returns)
• Form 5329 – Additional Taxes on Qualified Plans and Other Tax-Favored Accounts (Return for Individual Retirement Arrangement Taxes)

As for businesses:

• Form 940 Series – Employer's Annual Federal Unemployment Tax Return
• Form 941 Series – Employer's Quarterly Federal Tax Return
• Form 943 Series – Employer's Annual Federal Tax Return for Agricultural Employees
• Form 944 Series – Employer's Annual Federal Tax Return
• Form 945 Series – Annual Return of Withheld Federal Income Tax
• Form 1065 – US Return of Partnership Income
• Form 1041 – US Income Tax Return for Estates and Trusts

RBS WorldPay has over 20 years' experience in providing electronic payment solutions that are secure and convenient. The volume of transactions they manage each year run into the billions of dollars. Under the tie-up with Value Payment Systems, RBS will provide the technical infrastructure while Value Payment provides the management expertise.

Taxpayers can expect some value added benefits in using this new system. As with using your credit or debit card for other purchases, using it to pay taxes can qualify you for reward points or benefits from your credit card company. You should check with your credit card company for details of your reward program. Another benefit is that you can schedule automated payments and set reminders for future payments via email if you pay via www.payUSAtax.com.

Darrin T. Mish is a veteran, nationally recognized tax attorney who has focused on providing IRS help to taxpayers for over a decade. He regularly travels the country training other attorneys, CPAs and enrolled agents on how to handle their toughest cases with the IRS. He is highly ranked among the top attorneys in the country, with an AV rating from Martindale-Hubbell and a perfect 10 on Avvo.com. Martindale-Hubbell has also honored him with a listing in their Bar Register of Preeminent Lawyers. He is a member of the American Society of IRS Problem Solvers and the Tax Freedom Institute. With clients on every continent but Antarctica, he has what it takes to solve your IRS problems no matter where you live in the world. If you would like more information about his practice and how he can help you, please call his office at (813) 229-7100 or toll free at 1-888-GET-MISH.

Pay Your Taxes Online with Credit Card is a post from: IRS Tax Problem Solver Blog - IRS Help

Full post as published by IRS Problem Solver Blog on November 08, 2009 (boomark / email).