Question

How can the taxpayer transmit funds electronically? (Select all that apply.)

A. Authorize a same-day wire from your financial institution.
B. Authorize payment by debit card.
C. Authorize an electronic funds withdrawal from a checking or savings account.
D. Authorize payment by credit card.
E. None of the above. Taxpayers cannot transmit funds electronically.

Answer 1

Taxpayers can transfer funds electronically through same-day wires, debit cards, electronic funds withdrawals, and credit cards, with debit cards linked directly to bank accounts.

Step-by-step explanation:

The taxpayer can transmit funds electronically in several ways. Options include authorizing a same-day wire from a financial institution, using a debit card, electronically withdrawing funds from a checking or savings account, or using a credit card. Each method provides a convenient way to transfer funds. Debit cards are directly connected to your bank account and allow the transfer of real money for purchases. Credit cards, on the other hand, offer a borrowing mechanism and do not directly draw from personal banking funds.