Borrowing Money is a Possibilty to Pay Your Tax Bill

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FDIC Consumer News – Fall 2007 – Find the Funds to Pay Your Tax Bills


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Timely Tips for Tax Season


If you need to borrow money to pay your taxes, you have several choices but all come with fees and costs. The cheapest way to pay your tax bill is to tap your bank account. But if you must borrow the money, options include bank loans, an IRS monthly installment plan and your credit card. "Using a home equity line of credit may be an option, but remember that you could lose your home if you are unable to make the payments," added Reynolds.


Fall 2007 | Have your tax refund direct deposited | Consider your options and costs | Make good use of your refund | Beware of the costs | You can have your payment withdrawn electronically |
If you need to borrow money to pay your taxes... | Take advantage of free tax preparation services


FDIC Consumer News is published by the Federal Deposit Insurance Corporation


FDIC Consumer News is produced quarterly by the FDIC Office of Public Affairs in cooperation with other Divisions and Offices. It is intended to present information in a nontechnical way and is not intended to be a legal interpretation of FDIC or other government regulations and policies. Mention of a product, service or company does not constitute an endorsement.


Find current and past issues of FDIC Consumer News at http://www.fdic.gov/consumernews. Refer to this same index to locate the issues that are specially formatted for being reprinted in any quantity.


To receive an e-mail notice about each new issue of FDIC Consumer News posted on the FDIC Web site, with links to stories, follow instructions posted at www.fdic.gov/about/subscriptions/index.html.


Last updated on 11/08/2007

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