Individual And Business Taxpayers Can Pay Federal And State Taxes Electronically Via Official Payments Corp.®
OPC Marks 10th Year Offering its Proven, Trusted and Convenient Payment System for the IRS, Many States and the District of Columbia
RESTON, Va., February 20, 2008 – For the 10th consecutive year for individuals, and for the 3rd consecutive year for businesses, taxpayers can pay their federal taxes and other tax obligations in many states, using American Express®, Discover®, MasterCard® or Visa®, by visiting http://www.officialpayments.com or calling 1-800-2PAY-TAXSM. These electronic payment options are available through Official Payments Corp. (OPC), http://www.officialpayments.com, a wholly owned subsidiary of Tier Technologies, Inc. (NASDAQ: TIER), http://www.tier.com. OPC offers secure, proven, and convenient payment solutions, and the company has been an authorized IRS federal tax payment provider since 1999. Taxpayers can pay their federal and state income tax payments quickly, easily, and securely in one convenient session. All taxpayers, including paper filers, electronic filers, those who use tax-preparation software and those whose returns are prepared by tax professionals, can benefit from the convenience, card rewards, and cash management afforded by Official Payments’ electronic payment services. “Official Payments Corp. pioneered taxpayer electronic payment services, and since 1999 we have been authorized by the IRS to provide safe, secure payment processing,” said Ronald L. Rossetti, Chairman and Chief Executive Officer of Tier Technologies. “Since we began processing federal tax payments for the IRS, we have processed over $7 billion in federal taxes. Official Payments is the only company that has provided these services continuously since the IRS began accepting credit card payments for federal taxes,” Rossetti continued. Individual taxpayers can make secure federal tax payments through http://www.officialpayments.com for a variety of tax types including: • Form 1040 Balance Due – Tax Year 2007 • Form 1040ES Estimated Payment - Tax Year 2008 • Form 4868 Automatic Extension to File – Tax Year 2007 • Installment Agreement Payment Form 1040 – Tax Years 1998 through 2007 • Prior Tax Year Form 1040 – Tax Years 1998 through 2006 • Form 1040 Advance Payment of a Determined Deficiency (Audit Adjustment or Underreporter Notice) – Tax Years 2005 though 2007 • Trust Fund Recovery Penalty – Prior Tax Periods – Tax Years 1998 through 2007 • Trust Fund Recovery Penalty – Installment Agreements – Tax Years 1998 through 2007 In addition, businesses can make secure credit card payments for their taxes, including: • Form 940 or 940-PR, Employer’s Annual Federal Unemployment Tax Return – Balance Due – Tax Year 2007 • Form 940 or 940-PR, Employer’s Annual Federal Unemployment Tax Return – Prior Tax Years – Tax Years 1998 through 2006 • Form 940 or 940-PR, Employer’s Annual Federal Unemployment Tax Return – Installment Agreements – Tax Years 1998 through 2007
• Form 941, 941-PR or 941-SS, Employer’s Quarterly Federal Tax Return – Balance Due – Current Quarter • Form 941, 941-PR or 941-SS, Employer’s Quarterly Federal Tax Return – Prior Year Quarters – Tax Years 1998 through 2007 • Form 941, 941-PR or 941-SS, Employer’s Quarterly Federal Tax Return – Installment Agreements – Tax Years 1998 through 2007 • Form 944 (all types) Employer’s Annual Federal Tax Return – Balance Due – Tax Year 2007 In addition to federal tax payments, taxpayers can also use OPC’s electronic payment options to pay individual or business income tax in many states, and the District of Columbia. States accepting income tax payments through Official Payments are Alabama, Arkansas, California, Connecticut, Georgia, Iowa, Illinois, Indiana, Kansas, Louisiana, Maryland, Minnesota, Mississippi, Nebraska, New Jersey, New Mexico, New York, Ohio, Oregon, Pennsylvania, Rhode Island, Virginia, Wisconsin, and West Virginia. See http://www.officialpayments.com for a complete list of payment types available in each state. Official Payments charges a convenience fee for some services. Citizens and businesses using credit or debit cards with bonus rewards programs may, depending on their card's program, earn reward points, frequent flyer miles or cash back for paying their taxes and fees. The IRS has determined that convenience fees incurred by business taxpayers can be deducted as a business expense. About Official Payments Corp. Official Payments Corp., a wholly owned subsidiary of Tier Technologies, Inc., delivers innovative electronic payment processing services to governments, businesses and consumers throughout the United States. Headquartered in Reston, Virginia, Official Payments’ clients are comprised of nearly 2,700 federal, state, and local governments and agencies including the IRS, educational institutions, utilities and commercial clients. Since 1996, Official Payments Corp. has enabled fast, easy, and secure electronic payment processing. For more information, visit http://www.officialpayments.com. Official Payments offers a free service with its My Account feature at http://www.officialpayments.com/myaccount. My Account allows users to manage automatic payments, payment reminders, make payments using pre-filled contact information, view transaction history online, modify the details of a personal profile, and offer feedback regarding services. About Tier Technologies, Inc. Tier Technologies, Inc. primarily provides federal, state and local government and other public sector clients with electronic payment processing and other transaction processing services. Tier's electronic payment processing clients include over 3,000 federal, state, and local governments, educational institutions, utilities and commercial clients throughout the U.S. Tier is headquartered in Reston, Virginia. For more information, visit http://www.tier.com. Statements made in this press release that are not historical facts, including statements regarding expectations for future revenues, earnings, and expenses, are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Tier undertakes no obligation to update any such forward-looking statements. For a discussion of the factors which may cause our actual events or results to differ from those projected, please refer to the Company's annual report on Form 10-K for the fiscal year ended September 30, 2007, and other reports filed with the SEC. CONTACT: Tier Technologies, Inc. 10780 Parkridge Blvd. Suite 400 Reston, VA 20191 Ron Johnston Chief Financial Officer (571) 382-1333 investorrelations@tier.com