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For example, if you transfer $6,000 in credit card debt to a card offering 0% intro APR for 18 months, you could pay off the full amount by making $333 monthly payments with no added interest charges.
3. Make Quarterly Payments. If you don’t yet have tax debt, you can preempt issues by making quarterly estimated payments. If you’re a business owner, you’ll be charged a late payment fee if ...
Key takeaways. Credit card interest is not tax-deductible for personal expenses. The government stopped allowing a tax deduction for credit card interest in the 1980s.
If your credit score is intact, a credit card with a 0% APR can also be a resource. Many cards have introductory periods of 12 to 15 months, allowing you to take on debt without immediate penalty.
To be clear, the IRS does allow Americans to pay their taxes with a debit card or a credit card. However, they outsource the service to third parties that charge payment processing fees ranging ...
“While it’s possible to pay IRS tax debt with a credit card, think twice about that,” Micheletti said, noting that current credit card interest rates average more than 20%.
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