If it’s not bad enough to find yourself owing taxes right after the holiday bills came rolling in, consider putting your taxes on a credit card accruing interest. Sounds a little nutty, right? Apparently not - according to the IRS, in 2006, almost 2 million taxpayers paid federal taxes on a credit card, an increase of 36 percent over the prior year. 

Don’t allow yourself to be enticed by teasers or enhanced rewards from credit card issuers, it won't protect you from high interest rates - of up to 30% - if you don't pay off your credit card bill each month. If you are tempted to pay your taxes with a credit card, consider the true cost of credit. The last thing you want to do is roll your tax bill into a revolving credit card balance that you will be paying on this time next year.

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