Oh Thank Heaven for the IRS!
I remember the old jingle for 7-Eleven that sang “Oh thank heaven for 7-Eleven!” Well, now we can add the tax collecting IRS to that jingle. Oh, thank heaven for 7-Eleven and the IRS!
Believe it or not, you can now pay your taxes at that convenience store in 34 states. And, you can even make those payments in cash!
According to a recent announcement from the IRS, “Individual taxpayers can now make a payment without a bank account or credit card at over 7,000 7-Eleven stores nationwide.” An article in Forbes quoted the IRS Commissioner as saying, “We continue to look for new ways to provide services for our taxpayers. Taxpayers have many options to pay their tax bills by direct debit, a check or a credit card, but this provides a new way for people who can only pay their taxes in cash without having to travel to an IRS Taxpayer Assistance Center.”
If you are looking for the quickest way to make your payment, this method is not the one to choose. However, if cash is the only way you can do it, you want to start well in advance of the due date which is quickly approaching.
According to the IRS.gov website,”The quickest, easiest way to make a tax payment is online. If you prefer to pay in cash, the IRS offers a way for you to pay your taxes at a participating retail store.” The following steps are those provided at IRS.gov
Visit the Official Payments site and follow the instructions to make a cash payment with PayNearMe.
You’ll receive an email from Official Payments confirming your information. The IRS will then verify your information. This process may take two to three days.
After the IRS verifies your information, PayNearMe will then send you an email with a link to your payment code and instructions. Either print the payment code at home or send it to your smart phone.
Go to the retail store listed in the PayNearMe email and ask the clerk to scan or enter your payment code. You will receive a receipt from the store after they accept your cash. This receipt is confirmation of your payment and should be kept for your records. It usually takes two business days for your payment to post to your account.
Also be aware that each cash payment you make at the convenience store carries a $3.99 fee and payment limits are $1,000 per day. And there is a special cash reporting section on IRS Form 8300 if you are making cash payments that exceed $10,000.
The convenience of stopping to fill up your gas tank, pick up a cup of coffee and a sandwich and pay your IRS tax bill just can’t be beat. Oh thank heaven for the IRS now taking payments at your corner 7-Eleven store.
However you choose to make your tax payments, be sure to have your taxes prepared by a reputable professional. Taxation Solutions is here to help all year with your tax challenges and we’re almost in as many states as 7-Eleven.