Thoughts on paying IRS with GC's

humancar

humancar

Level 2 Member
It's time for me to pay the remaining balance on my taxes for last year, approximately $7k worth. I would like to use my GC's to do so, which would incur a 1.88% fee, which is worth it for me. What are your thoughts, is it too risky? Has anyone on here done it and either was successful or had problems? Thanks in advance for the input.
 
S

SanDiego1K

Level 2 Member
What do you mean by risky? There are several companies authorized by the IRS to collect payments. I have done so for several years. I get a receipt and have never had an issue.

Ahhh, I just reread your post. You are asking about using gift cards. I was responding about using credit cards. It's a costly way to pay the IRS to first buy gift cards with their associated fees and then to use them and pay an additional fee.
 
humancar

humancar

Level 2 Member
I already have a bunch of GC's that I wanted to use to pay for my taxes. I've used credit cards to pay in previous years without issue, but was wondering if anyone has every run into any problems with the IRS when doing so.
 
humancar

humancar

Level 2 Member
I just found out this option will not work, for anyone interested. You can only use two payment sources to pay the IRS for a single voucher, so it is not possible to use a bunch of GC's for payment of a single voucher.
 
humancar

humancar

Level 2 Member
@AnyNameYouWish Did you purchase the 4k in MOs in increments (i.e. $200; $100) and then use multiple MOs for payment or were you able to consolidate all GCs into a single 4k MO?
 
zceuxbhjutf

zceuxbhjutf

Panel 3 Member
FWIW if you have six $500 GCs you can pay almost $3000 of yer IRS bill for way less than 1.88%...

two @ $2.50ea
two @ $2.59ea
two @ $2.69ea
----------------
total $15.56 = 0.52%
 
You must log in or register to reply here.
Top