You Rub Uncle Sam’s Back and He’ll Rub Yours
Did you know voluntary payments to the US Treasury are tax deductible? This practice is a boon to taxpayers and it also helps relieve community debt. It is highly likely you won’t know much about this kind of tax payment. If you do then you may shudder at the thought of giving in excess of what you currently paid to the federal government. Voluntary payments don’t get much attention but some people are starting to point out this option due to the current national debt crisis.
There is little doubt Uncle Sam relishes this kind of gift from his taxpayers. This was fleshed out by David Kestenbaum and Kay Fishburn. Kay Fishburn from Wisconsin asked thousands of her fellow Americans to assist in lowering the level of the nation’s debt. She wants you to do the same as her by putting more than your yearly tax amount into Uncle Sam’s coffers. Kay from Wisconsin caught up in tax payments all the way from 1993. The object is to increase those coffers as quickly and as much as possible.
If you are inclined to agree with such a patriotic gesture you can also contribute by using ordinary mail. Other means of donating is online through Pay.gov, credit card or direct debit from a bank account. If you opt to use your credit card you must pay the total personal fee the day you get your credit card bill. This makes sense because then you won’t add to your personal debt by attempting to lower the national debt.
According to the IRS, when you donate extra dollars to your tax bill, you are entitled to claim the extra amount. All you have to do is clearly detail it on your next tax return as a charitable deduction in order to ‘get it back’.
