Paying taxes by credit card has just gotten cheaper
September 7, 2009 by: The Tax ManTaxpayers may deduct convenience fees charged for paying individual income taxes electronically by credit or debit cards. The convenience fees are deductible in the tax year in which they are paid as a miscellaneous itemized deduction subject to the two percent of adjusted gross income (AGI) floor. This treatment is available to individuals who itemize their deductions and will be able to take advantage of the change.
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Taxpayers must have sufficient miscellaneous expenses to exceed two percent of their AGI.
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