April 8, 2016

7-11 Stores: You can now get your hotdog, slurpee, cigarettes, and also make cash tax payments to the IRS

This is not a joke.  Although I actually thought it was when I first heard about this rather unusual ... ok, very unusual ... partnership.  I didn't believe it until I read the official IRS Announcement.

As reported in various media outlets, the Internal Revenue Service has partnered with 7-11 convenience stores to offer payment of taxes - in cash - at select 7-11 stores in 34 states including my very own California.

My initial thought?

Giving your Social Security Number to a 7-11 store ...
What could possibly go wrong?

/Sarcasm off./  I have so many security, identify theft, and financial privacy concerns with this arrangement that steam may be coming out of my ears.  I will not recommend this payment method to any of my clients.

The 7-11 pay-taxes-in-cash process is not as simple as walking into the store and paying taxes.  It requires a multi-day sign up process.  Cash payments are limited to $1000 per day with a $3.99 convenience fee.

Many of you are probably wondering "Why not just go to your local IRS Office and make a tax payment in cash?"  Answer:  not all IRS Offices (now called by the kinder title of Taxpayer Assistance Offices) accept cash tax payments.  Yes, the legal tender of the United States of America is not accepted at some IRS Offices.

Rather ironic, isn't it, considering that the Internal Revenue Service is a division of (technically called a bureau of) the United States Department of the Treasury.  You know, the government department responsible for currency (cash) and coinage.

To find out if your local IRS Office ... oops! Taxpayer Assistance Office ...   accepts cash tax payments, find your local office and learn what services it provides here.

Questions or Concerns about Tax Matters?

I am an Enrolled Agent licensed by the Department of the Treasury which allows me to provide tax services to taxpayers in all 50 states and US territories.  I provide tax services to individual income, business, estate, and trust clients.  Please contact me if you have questions about tax preparation, tax planning, or taxpayer representation (audit and collection) matters.  (Please note that I do not have consultation times available for new tax preparation and planning clients until after April 18, 2016.)

For information about my nationwide Consulting, Expert Witness, and Tax Services visit Fouts Financial Group.

Mary Rae Fouts

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