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Benjamin Franklin once said, “In this world
nothing is certain but death and taxes,” but
he didn’t live to see incometaxpayment.com
by LINK2GOV. If he had, he might have amended his adage to “…death,
taxes and a $2.95 flat fee for Federal balance-due tax payments, no
matter the amount, when initiated with a debit card at
incometaxpayment.com.” LINK2GOV, an
IRS-authorized payment provider, is a business unit of Metavante
Corporation, the banking and payments technology subsidiary of Marshall
& Ilsley Corporation (NYSE:MI).
Processing credit and signature debit card Federal balance-due tax
payments at PAY1040.com and 888-PAY1040 since 2003, LINK2GOV now
delivers another industry-first to taxpayers initiating card-based
payments. Never before has PIN-less debit been a card option for Federal
balance-due tax payments; and the $2.95 convenience fee charged at
incometaxpayment.com is the only flat-fee option available anywhere.
Payments made at incometaxpayment.com are authorized in real time and
the payment date is the same date the transaction was successfully
completed.
“LINK2GOV has added a layer of financial
responsibility to card-based tax payments that didn’t
exist prior to incometaxpayment.com,” said Ed
Braswell, president, LINK2GOV. “With this new
service, taxpayers can take advantage of the debit networks and use
their debit card to send a balance-due payment that draws directly from
their checking account, instead of adding more debt on a credit card.
For $2.95, they’re getting savings instead of
credit card fees and the peace of mind knowing the bill has been
instantly paid.”
LINK2GOV’s incometaxpayment.com also delivers
savings when compared with making Federal balance-due tax payments by
check. According to U.S. Postal Service pricing, a Federal tax payment
sent Certified Mail, with a Return Receipt by mail, costs $4.25 not
including postage. Proprietary LINK2GOV user-survey data,1
collected during 2006, reveals a desire for convenience when initiating
Federal balance-due tax payments with LINK2GOV. When asked why they used
LINK2GOV’s card-based service via the
Internet, nearly 87 percent of users pointed to either “convenience”
or “running out of time to make the payment.”
Less than three percent of the respondents stated that they used the
service for short-term financing.
“Research indicates the percentage of
Americans owing Federal taxes and the amount owed is on the rise,”
said Frank D’Angelo, group president,
Metavante Payment Solutions. “With an
expanding pool of taxpayers and our own customers voting for
convenience, this is the perfect time to make card-based federal tax
payments more affordable and financially responsible than ever before.”
Debit cards eligible for use at incometaxpayment.com must participate in
at least one of the following payments networks: NYCE, Star or PULSE.
Participation is usually indicated by the network logo(s) that appear on
the back of a check, debit or ATM card.
The following Individual and Business Federal balance-due tax payments
can be initiated at incometaxpayment.com. Individual
Tax Payments: 1040 (all types), Balance Due Notice, 1040ES
Estimated, Prior Tax Year, 4868 Automatic Extension, Form 1040
Installment Agreement, Form 1040 Advanced Payment of a Determined
Deficiency, and Trust Fund Recovery Penalty. Business
Tax Payments: Form 941 Employer’s
Quarterly Federal Tax, Form 940 Employer’s
Federal Unemployment (FUTA) Tax and Form 944 Employer’s
Annual Federal Tax. As an added benefit, the convenience fee for
business tax payments is tax deductible to the full extend permitted by
law.
LINK2GOV, a Metavante company, has been providing comprehensive,
customized electronic service applications for government agencies since
1995. In addition to the IRS payment services, LINK2GOV also facilitates
the collection of state income taxes, real estate taxes, utility bills,
vehicle registrations and driver’s license
renewals, parking tickets, traffic citations, tuition payments, court
fees and fines, hunting and fishing licenses, as well as various
business licenses. Metavante Payment Solutions delivers electronic money
movement through an integrated payments network, including an ATM/PIN
debit network in NYCE, online bill payment, a complete suite of payment
cards and automated clearing house (ACH) processing. Metavante helps
clients grow revenue by capitalizing on the expanding electronic
payments markets including financial, healthcare and government payments.
About Metavante
Metavante Corporation delivers banking and payments technologies to
financial services firms and businesses worldwide. Metavante products
and services drive account processing for deposit, loan and trust
systems, image-based and conventional check processing, electronic funds
transfer, consumer healthcare payments, and electronic presentment and
payment. Headquartered in Milwaukee, Metavante (www.metavante.com)
is wholly owned by Marshall & Ilsley Corporation (NYSE:MI).
1Collected from over 26,800 survey respondents
who utilized LINK2GOV’s PAY1040.com service
during calendar year 2006.
Certified Mail is a trademark of the United States Postal Service;
Metavante, Link2Gov, PAY1040.com and NYCE are registered trademarks
of Metavante Corporation.