• Paying Taxes Now as Convenient as 7-11

    By | April 6, 2016

    I'm somewhat nonplussed by this:

    In a program aimed at individual taxpayers who lack checking accounts or credit cards, the IRS has unveiled a partnership with retail stores (currently only 7-Eleven) to allow these taxpayers to pay their federal tax bill in cash (IR-2016-56). Called PayNearMe, taxpayers can pay up to $1,000 a day at over 7,000 participating stores for a $3.99 fee. The IRS says that many of the stores are open 24 hours a day, 7 days a week.

    I don't necessarily recommend walking around with $1,000 in cash to pay your taxes but whatever works. Plus: Slurpee!

    [JofA]

    • Jack

      Why pay $3.99, just take the cash to your local IRS office. That’s what pot retailers do in Washington State as illegal for banks won’t open accounts for them so they have to pay tax deposits in cash.

      • Tax Nerd

        Colorado dispensaries howl about having to go to downtown Denver to pay the IRS. There’s a 10% penalty for not paying electronically. There’s also the time involved if they aren’t local. I suspect there’s a security issue, too, with carrying around all that cash, though they aren’t advertising it.

        http://www.theweedblog.com/colorado-pot-sues-irs/

    • SmallFry

      It’s great, they can pay their taxes when they pick up their 6 pack. Imagine the increase in muggings at the stores now?

    • JessterCPA

      This 7-11 deposit machine is also valid for legal NJ based online gambling sites.

      Just another reason to visit 7-11.

      • Caleb Newquist

        Oh thank heaven.

    • Here’s hoping the 7/11 stores take good security measures – camera and security guard to protect people who will be trying this out.