15 April 2004
Taxation: it's everywhere you want to be
A new survey reveals that the majority of American taxpayers are aware that the Internal Revenue Service accepts major credit cards, but few are willing to put their tax balances on plastic because of the fees charged (usually 2 to 3 percent).
This really isn't too surprising: if you're facing a $1200 payment, coming up with an extra thirty bucks isn't going to make you feel any better, even if you've got a twenty-day grace period on your MasterCard. The survey suggests that the IRS, should they want greater use of plastic, should follow the lead of real merchants and pay the cost of card processing themselves, billing the $1200 and then collecting $1170 or so from their card service. I have serious doubts, though, that the Treasury will consider such a thing.