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Pay Taxes with a Credit Card: Pros & Cons

The IRS does indeed accept payment by plastic, which inevitably tempts many people to ponder paying their taxes with a credit card. There are various arguments to be made both in favor of and against such a strategy, and we’ll do our best to lay them out below.

The IRS offers a number of options to people who cannot pay their full tax burden by the deadline, including a 120-day extension and an installment plan. It is very important that you carefully consider each option, including any and all associated costs, in order to determine which would be most advantageous based on your circumstances.

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Line of Credit vs. Credit Card: Difference, Cost & More

Lines of credit and credit cards are two very similar types of financial products that help consumers, small business owners and even large corporations access borrowed funds on an as-needed basis. In order to help you better understand the differences that do exist between a line of credit and a credit card as well as the roles each can serve in your financial life and how to choose between them, we’ve compiled a complete comparison below.

If you are interested in learning more about credit cards, lines of credit or how credit limits are set, we have more detail in our respective guides on the topic.

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