PAY1040.com Celebrates Five Years of Payment Processing for the IRS
12 March 2007 - 11:00PM
Business Wire
LINK2GOV Corp., an IRS-authorized payment provider and a Metavante
company, today announced its PAY1040.com service, now in its fifth
year of contracted electronic payment processing for the Internal
Revenue Service, is witnessing a 63 percent year-over-year increase
in dollars processed for federal tax payments during tax season
2007. This news follows a recent IRS report that showed significant
growth in card-based tax payments during 2006. Taxpayers can use
their American Express�, Discover�, MasterCard�, or Visa� card to
make a federal tax payment at www.PAY1040.com or 1-888-PAY-1040
(1-888-729-1040). Metavante Corporation is the banking and payments
technology subsidiary of Marshall & Ilsley Corporation (NYSE:
MI). �According to transaction data, the IRS received approximately
2.1 million card payments in 2006, and that represented a 35
percent growth over 2005. In tax season 2007, LINK2GOV is
witnessing meaningful growth over the record-setting pace of 2006,�
said Ed Braswell, president, LINK2GOV. �That means taxpayers are
increasingly demanding the speed and convenience of card-based
payments, instant proof of payment, and potentially gaining rewards
points or miles from a card issuer.1 For LINK2GOV in particular, it
also means that the growing popularity of PAY1040.com, evidenced by
year-over-year growth, can be attributed not only to convenience,
but also the innovation we�ve brought to card-based federal tax
payments, through a number of industry-firsts such as QuickPay and
AutoPay applications.� QuickPay includes email reminders that are
sent to an individual or business prior to their next tax payment
due date. Each convenience email contains instructions on how to
log on to www.PAY1040.com and make another payment. AutoPay then
builds on that process, by allowing taxpayers to schedule recurring
card-based federal tax payments on a day and month of their
choosing. As part of the AutoPay service, the federal tax payment
is confirmed with an email. Additionally, a convenient email
reminder is sent five calendar days prior to each payment date,
providing taxpayers with an opportunity to cancel if necessary.
PAY1040.com Facts Taxpayers can use their American Express,
Discover, MasterCard, or Visa card to make a federal tax payment at
www.PAY1040.com or 1-888-PAY-1040 (1-888-729-1040). LINK2GOV
processes payments immediately and provides a confirmation number
as proof of payment; the IRS posts the payment based on the Social
Security Number or Employer Identification Number entered during
the transaction. IRS payment date will be the date a transaction is
authorized and completed.�A taxpayer�s electronic payment will be
considered on time so long as they complete their transaction prior
to midnight (respective to their home time zone) on the due date. A
convenience fee of 2.49 percent of the tax payment (minimum $1.00)
is charged by LINK2GOV for using this service. The convenience fee
for business tax payments is tax deductible to the extent permitted
by law. Eligible Tax Payments 2 Individual � 1040 (all types)
Balance Due Notice 1040ES Estimated Prior Tax Year (1997-2005) 4868
Automatic Extension Form 1040 Installment Agreement Form 1040
Advanced Payment of a Determined Deficiency Trust Fund Recovery
Penalty (1997-2006) Business � Form 941 Employer�s Quarterly
Federal Tax (1997-2006) Form 940 Employer�s Federal Unemployment
(FUTA) Tax (1997-2006) Form 944 Employer�s Annual Federal Tax
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, 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, electronic
presentment and payment, and business transformation services.
Headquartered in Milwaukee, Metavante (www.metavante.com) is wholly
owned by Marshall & Ilsley Corporation (NYSE: MI). 1 Payment
card rewards programs are provided by the issuing financial
institution and vary based on enrollment and eligibility. 2 Federal
tax deposit payments are not eligible for this service. Metavante,
LINKGOV, PAY1040.com and NYCE are registered trademarks of
Metavante Corporation.
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