About Credit / Debt Management: Should You Pay Taxes With a Credit Card?

Credit / Debt Management In the Spotlight | More Topics |   from LaToya Irby One thing that's worse than filing income taxes, is paying income taxes. The economic slump will make paying taxes harder for many taxpayers. So hard, that charging income taxes might be the only option.   In the Spotlight Pros and Cons of Charging Income Taxes One obvious benefit of paying your taxes by credit card is that you no longer owe the IRS. On the other hand, you now owe the credit card company. These days, owing the IRS might sound more attractive. Read more about the benefits and drawbacks of paying taxes by credit card.              More Topics Time-Barred Debts Debt Collection Debt to Income Ratio Calculator Reducing Debt How to Avoid Bankruptcy Debt Management Solutions When to Check Your Credit Report Credit Reports & Scores 10 Places to Complain About Credit Businesses Consumer Credit Laws The Best Order to Pay Your Credit Cards Reducing Debt 15 Credit Score Killers Credit Reports & Scores You May Owe Taxes on Cancelled Debt If you had debt forgiven in 2008, your ex-creditor may have sent you a Form 1099-C for Cancellation of Debt. Unfortunately, the government counts cancelled debt as income and wants you to include it on your tax return. You could end up owing taxes on the cancelled debt.   5 Smart Ways to Spend a Tax Refund Getting a tax refund is always nice, but keep in mind it means you had too much income tax withheld from your paychecks. Usually, there's a temptation to splurge a tax refund. But I have a feeling no one's up to doing that this tax season. Here are a list of smart ways to spend your tax refund.     Sponsored Links   Best Moves in a Bad Economy Save & Invest the Right Way Find out how to beat a bear market, make smart choices, and keep your cool even when the economy is unpredictable. Credit / Debt Management Ads Credit and Debt Clean Bad Credit Credit Fixer How to Fix Credit Credit Scores Advertisement     Visit Related About GuideSites: Search About      Sign up for more free newsletters on favorite topics. You are receiving this newsletter because you subscribed to the About Credit / Debt Management newsletter as lemmetry@GMAIL.COM. If you wish to change or remove your email address, please visit: http://www.about.com/nl/usgs.htm?nl=credit&e=lemmetry@GMAIL.COM About respects your privacy. Our Privacy Policy. Our Contact Information. 249 West 17th Street New York, NY, 10011 © 2008 About, Inc.