IRS Reverses Stance on Fee Deduction

April 2009
American Banker;4/9/2009, Vol. 174 Issue 68, p16
Trade Publication
The article reports that the U.S. Internal Revenue Service (IRS) will allow taxpayers to deduct on their 2008 tax return fees that credit or debit card processors charge on electronic income tax payments. Federal laws prohibit the IRS from paying fees associated with those transactions, the article states.


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