More Americans paying taxes with plastic

[Tweed]

http://www.suntimes.com/output/business/taxes20.html

"NEW YORK-- As more Americans file their taxes electronically, they're also more likely to use credit and debit cards to pay the taxes due.

Many consumers find that using plastic is convenient and also boosts their rewards points. On the other hand, credit experts worry that the trend suggests more people are digging themselves deeper into debt.

The Internal Revenue Service said it received 950,715 credit and debit card payments in 2004, triple the volume of 2002. An additional 834,000 payments last year were automatically transferred from checking or savings accounts, the IRS said.

"The country is moving toward becoming a cashless society," said James R. Weaver, chairman and chief executive of Tier Technologies of Reston, Va., which does card processing of IRS payments. "We're seeing more than 20 percent growth a year, and we would expect that type of growth to continue for the foreseeable future."

[7th_Sephiroth]

1. Debt cards pull straight from the bank account

tmyk

[BrklynLiberal]

2. As far as the credit card usage....that will be handled by the new

bankruptcy bill. We will all meet in debtor's hell. Talk about a catch-22.
Now we can even pay our taxes with credit cards, and what with 30% interet and no bankruptcy, we will all be up to our necks in debt.

[fasttense]

3. We should all pay our taxes with credit cards.

Isn't that what b*sh is doing with the US? He keeps going deeper and deeper into debt and nobody cares. So I'll follow his lead. It seems to work.