Paying taxes with a credit card is one method for increasing your spending on a rewards credit card. In this video, we’ll talk about how that works, costs, and more.
How to pay taxes by credit card
You can read about paying taxes with a credit card here
(00:13) – Find our podcast episode 343 “How we increase spend to earn big card bonuses” here
(00:40) – Two payment processors
(02:26) – Basics of making tax payments
(02:38) – Pay estimated taxes vs end of year taxes
(04:03) – How to see the % fee you’ll be charged
(06:47) – ACI PayPal trick
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Question on meeting spend requirements. For this particular year I’m due for a tax refund so needless to say I don’t ‘need’ to make a tax payment.
But- could I make a ‘tax payment’ and then how long would it take for the IRS to ‘pay me back’ my overpayment?
I should be getting my regular tax refund + my overpayment. Will they be direct deposited together? Is there much of a delay in getting my overpayment back?
Reason I’m asking is because I want to figure out the amount of money I can float doing this.
Awesome video btw! Didn’t know about the premium credit cards that would be charged the extra fees and how the different payment processors consider them to be different maybe.
But, not the Bilt card.