Link2Gov Corp. announced that its Pay1040.com service, now in its fifth year of contracted electronic payment processing for the Internal Revenue Service, is experiencing a 63 percent year-over-year increase in the dollars being processed for federal tax payments.
This news follows a recent IRS report showing significant growth in card-based tax payments during 2006. According to transaction data, the IRS received approximately 2.1 million card payments in 2006, a 35-percent growth over 2005’s figures.
Link2Gov also touted its QuickPay and AutoPay features, the former which sends email reminders to taxpayers before their payment due date, and the latter which allows taxpayers to schedule recurring card-based federal tax payments on a day and month
of their choosing.
A convenience fee of 2.49 percent of the tax payment (with a $1 minimum) is charged by
Link2Gov for the service, though the fee for business tax payments is deductible. The business is operated under Metavante Corp., the banking and payments technology subsidiary of Marshall & Ilsley Corp.
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