The Internal Revenue Service has made paying taxes marginally less expensive.
The agency, which is a branch of the U.S. Treasury Department, announced on April 7 that it will reverse a previous ruling that allowed businesses to deduct the fees for paying taxes by card but did not allow individuals to do so.
Individuals and business have had to pay the fees because federal law prohibits the IRS from paying the card interchange fee, which the agency said average 2% of the transaction amount.
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But what the agency gives, it also takes away. Taxpayers will have to itemize their deductions in order to be able to take advantage of the policy change and their miscellaneous deductions will have amount to more than 2% of their adjusted gross income.
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