Metavante Corporation, the financial technology subsidiary of Marshall & Ilsley Corporation (NYSE: MI), today announced that, beginning this tax season, the Internal Revenue Service will accept credit card payments in connection with business tax forms 941 and 940.
This is the first time businesses have a credit card payment option.
As one of only two IRS-authorized online payment processors, the Metavante affiliate LINK2GOV powers the two Web sites and offers secure and convenient payment options for this program. All major credit cards are accepted; some may qualify for rewards programs, and the IRS will allow the standard convenience fee to be deducted as a business expense. Additionally, businesses paying recurring federal taxes through PAY941.com can choose to receive automated email reminders through LINK2GOV's exclusive QuickPay feature.
"Government payment processing is a high-growth business, especially now with adding in business tax payments," said Edward Braswell, president, LINK2GOV. "LINK2GOV made its name enabling consumers to pay taxes, fees and bills 24/7 on the Internet at PAY1040.com, at the point of sale, or on the phone. We process millions of dollars in tax payments annually, and now we offer online payment functionality to the business community, which deals with a significantly more rigorous tax payment schedule than most consumers."