Oklahoma City, OK (PRWEB) April 15, 2006
What options do taxpayers have when tax day arrives and they don’t have the funds to pay? "Consider paying Uncle Sam with plastic,” advised Chris McCullough, founder of CreditcardSuperstar.com, a credit card comparison website that allows consumers to shop online for the best credit card deals.
More and more Americans are turning to credit cards to pay their taxes. Approximately, 1.5 million taxpayers used debit and credit cards last year to pay off tax debts.
“In some cases, it makes sense,” Mr. McCullough said, “Individuals can quickly apply for a 0% introductory APR credit card which is going to cost them a lot less than going down to the bank and taking out a loan.”
For some who are in a pinch for money, this may be their only option. An example, someone who is self-employed may not have the cash available to pay a 7 to $8,000 tax bill, but they may have that available cash on their credit card.
Individuals who have large tax bills can use a reward credit card or an airline card to quickly earn points for free airline tickets and other perks. Those who have more modest amounts due can use a credit card in lieu of high fee payday loan services.
There are even payment service providers that can help taxpayers process their payments. They typically charge a “convenience fee” for their services, so it pays to do your homework. Two such services are officialpayments.com and pay1040.com.
CreditcardSuperstar.com is a credit card shopping service for consumers and small business owners.
Chris McCullough, Founder