Value Payment Systems and RBS WorldPay announced that the companiesâ payUSAtaxâ¢ tax payment service will now accept MasterCard cards for U.S. IRS Federal tax payments. For the 2009 tax year, MasterCard cardholders can now experience greater speed, convenience and security when paying their federal taxes online at www.payUSAtax.com and 888-9-PAY-TAX (888-972-9829) at a reduced convenience fee rate of only 1.95%.
âBy accepting MasterCard cards, weâre proud to offer our customers a quick, simple, convenient, and secure way to pay when filing their personal and business U.S. Federal taxes,â said Scott Slusser, CMO, Value Payment Systems. âBy using a credit or debit card through our website or toll-free phone number, tax filers can complete their Federal tax payment to the IRS in minutes and avoid the cumbersome tasks of writing checks or making a trip to the post office.â
Taxpayers who use their MasterCard credit or debit card when filing their Federal taxes with payUSAtaxâ¢ can earn rewards, schedule automated payments, set future payment e-mail reminders and deduct the convenience fee on their tax return.
Â· /Rewards/ â MasterCard cardholders who pay their taxes at www.payUSAtax.com or via payUSAtaxâs toll-free phone number may receive points or benefits from reward programs connected with their credit or debit card. Taxpayers should check with the financial institution that issued their MasterCard credit or debit card for specific terms and conditions.
Â· /Recurring Payments/ â To save time and avoid potential late fees, users of www.payUSAtax.com can schedule automated payments and set future payment e-mail reminders through the IRS installment agreement tax payment plan.
Â· /Convenience Fee Deductibility/ â The IRS has determined convenience fees incurred by qualifying individual taxpayers may be deductible. Taxpayers should consult with their tax advisor to determine if they qualify. The IRS considers a business tax payment convenience fee as a deductible expense.
âAs the use of payment cards outpaces that of cash and checks, U.S. taxpayers are increasingly taking advantage of the convenience and security that comes with paying for their taxes with a MasterCard card, said Mathias Lilja, vice president U.S. Commerce Development, MasterCard Worldwide. âWeâre pleased to work with payUSAtax to make paying tax debts faster and more efficient for both personal and business taxpayers this tax season.â
Through the payUSAtaxâ¢ service, individual taxpayers can make secure tax payments for the following federal tax types: **
Â· Form 1040 Series (including Prior Year payments)
Â· Estimated Taxes (Form 1040ES)
Â· Installment Agreement Payments
Â· Form 4868 (Tax Extension)
Â· Trust Fund Recovery Penalty
Â· Form 1040X (Amended Tax Returns)
Â· Form 5329 – Additional Taxes on Qualified Plans and Other Tax-Favored Accounts (Return for Individual Retirement Arrangement Taxes)
Businesses can make secure credit card and debit card payments for their taxes, including:
Â· Form 940 Series – Employer’s Annual Federal Unemployment Tax Return
Â· Form 941 Series – Employer’s Quarterly Federal Tax Return
Â· Form 943 Series – Employer’s Annual Federal Tax Return for Agricultural Employees
Â· Form 944 Series – Employer’s Annual Federal Tax Return
Â· Form 945 Series – Annual Return of Withheld Federal Income Tax
Â· Form 1065 â U.S. Return of Partnership Income
Â· Form 1041 â U.S. Income Tax Return for Estates and Trusts
payUSAtaxâ¢ was founded by RBS WorldPay in partnership with Value Payment Systems, LLC to provide taxpayers with a low cost, convenient and secure federal tax payment service. For more information and benefits of using your MasterCard card, please visit www.payUSAtax.com .
*About RBS WorldPay, Inc.*
RBS WorldPay is a leading, single-source provider of electronic payment processing services â including credit, debit, EBT, checks, gift cards, e-commerce, customer loyalty cards, fleet cards, ATM processing and cash management services. RBS WorldPay is the US-based payment processing division of the Royal Bank of Scotland Group plc. For more information, please visit www.RBSWorldPay.us .
*About Value Payment Systems*
Value Payment Systems provides electronic payment products and services to various industries including government and property management. Value Payment Systemsâ comprehensive e-payment services encompass a wide array of payment channels including the Internet and touch tone phone systems. For more information, visit www.valuepaymentsystems.com .
*About MasterCard Worldwide*
MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes over 22 billion transactions each year, and provides industry-leading analysis and consulting services to financial-institution customers and merchants. Powered by the MasterCard Worldwide Network and through its family of brands, including MasterCardÂ®, MaestroÂ® and CirrusÂ®, MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercard.com . Follow us on Twitter: @mastercardnews.