I just found out that I own a ton of money to the IRS. Can you pay your tax balance with a credit card? Is this a good idea because I would get credit card points?
T.
The answer is yes, but there are huge fees involved. We don't advise the use of credit cards. The fee is generally $3.49 plus 2.49% of the amount charged. In addition the credit card will be charging you interest of 18% or higher until you pay them off. You would be better off borrowing the money from the Sopranos.
Larry Kopsa CPA
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