A Debit Card Tax Payment First: LINK2GOV's New ''incometaxpayment.com'' Gives Tax Payment Peace of Mind Without Giving Up a Piec
January 10 2007 - 8:00AM
Business Wire
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.
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