Everybody
must pay taxes to the IRS at the end of the year; unless of course
you can prove that you never received any income during that period.
Even though paying taxes is a duty for all citizens, there are times
when this liability will come knocking when you are not financially
prepared. If your returns indicate that you owe money to the
government in form of taxes, you must meet this obligation otherwise
you may face legal action and in addition, ruin your good
credit. When
you have maintained a good
credit
history for a while, your credit card company might increase your
limit and this means you can use the card for almost all expenses
including paying the taxman. Before you use your credit card to pay
tax and ruin what
is a good credit rating score,
think about;
The
money that tax payment processors will deduct from your card to pay
themselves is an expense to you. The IRS appoints collectors to act
as contact points for people wishing to pay tax through digital means
and these appointees are paid by the tax payer. This fee will be
deducted from the credit card limit and hence increase the
utilization.
You
want to be in the good side of the law by paying your taxes promptly
but if you use a credit card, it is easy to underpay. Did you know
that an underpayment of your taxes accrues interest charged at
different rates every quarter? You may be trying to save face by
paying your taxes with a convenient credit card to get good
credit but
what
is a good credit
rating score
can
only be achieved by avoiding it completely.
Related
Source: Why
Paying College Tuition With A Credit Card Is Unwise
Facebook:
https://www.facebook.com/creditgoodcom
Twitter:
https://twitter.com/creditgoodcom
0 comments:
Post a Comment