Partly in response to the problem faced by dealers in medical marijuana or those in states where marijuana sales are legal, the IRS has partnered with PayNearMe to allow taxpayers to make cash payment on their taxes at participating 7-Eleven stores in 34 states. This allows anyone without a bank account a more convenient way to pay a tax liability. Since most are open 24 hours a day, seven days a week, you can make your tax payments at 3am if the mood hits you.
To utilize this option, the taxpayer should go to www.irs.gov payments page and select the cash option to make the tax payment. After following the instructions given, the taxpayer will receive an e-mail confirming their information. Then, PayNearMe sends the taxpayer an e-mail with a payment code and instructions. The taxpayer may then print the payment code or download it to their smart phone. A list of participating 7-Eleven stores is included.
Go to the selected 7-Eleven, make your payment and get a receipt. The payment is supposed to post to the taxpayer’s account within two days. With this three-stop process, taxpayers are urged to allow plenty of time to complete the process and not begin on the due date for the taxes.
Of course, there is no such thing as a free lunch, and there is a $3.99 fee per payment with a $1,000 payment limit. Presumably the taxpayer may make multiple payments if necessary. One more way the IRS has developed to help you part with your hard-earned money.
Dr. John Stancil (My Bald CPA) is Professor Emeritus of Accounting and Tax at Florida Southern College in Lakeland, FL. He is a CPA, CMA, and CFM and passed all exams on the first attempt. He holds a DBA from the University of Memphis and the MBA from the University of Georgia. He has maintained a CPA practice since 1979 with an emphasis in taxation. His areas of expertise include church and clergy tax issues and the foreign earned income credit. He prepares all types of returns, individual and business.
Dr. Stancil has written for the Polk County Business Journal and has presented a number of papers at academic conferences. He wrote the Instructor’s Manual for the 13th edition of Horngren’s Cost Accounting. He is published in the Global Sustainability as a Business Imperative, Green Issues and Debates, The Encyclopedia of Business in Today’s World, The Palmetto Business Review, The CPA Journal, and in the NATP TaxPro Journal. His paper, “Building Sustainability into the Tax Code” was recognized as the outstanding accounting paper at the annual meeting of the South East InfORMS. He wrote a book entitled “Tax Issues Faced by U. S. Missionary Personnel Abroad ” that will soon be published.
He has recently launched a new endeavor, Church Tax Solutions, which presents online, on demand seminars on various church and clergy tax issues.
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