Paying Taxes with a Credit Card is a Bad Idea

If you owe on your taxes and won’t be receiving a refund this year, there are several ways you can pay Uncle Sam. But what about using a credit card to pay taxes? As it turns out, paying taxes with a credit card is almost always a bad ideas. From third-party fees to high interest rates, you can easily end up paying more than double what you actually owe! And your credit score can take a hit too. Luckily, there are better options if you are struggling to come up with the amount you owe. The IRS offers payment plans, or you might even consider using funds available in your checking account. Learn more about this topic from Garry Patterson and Fox 13 in Memphis.