Taxpayers Can Now Pay Federal Tax at Participating Retail Stores

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According to the Journal of Accountancy, the IRS has unveiled a partnership with retail stores to allow taxpayers to pay their federal tax bill in cash (IR-2016-56).

PayNearMe, aimed at individual taxpayers who lack checking accounts or credit cards, allows payments  of 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.

The new payment process involves registering before paying, and may take five to seven days, so the IRS stresses that taxpayers should use this method “in plenty of time” before the due date of the payment to avoid penalties and interest.

To read the full article, visit the Journal of Accountancy blog:  https://www.journalofaccountancy.com/news/2016/apr/new-irs-program-for-taxpayers-to-pay-cash-201614192.html?utm_source=mnl:alerts&utm_medium=email&utm_campaign=06Apr2016#sthash.fk1j1Fmj.dpuf

 

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