Many consumers still prefer to use cash when they owe someone else money. And plenty owe the Internal Revenue Service money at this time of year.
To address this need, ACI Worldwide and PayNearMe will provide a cash payment option for tax payments at nearly 7,000 7-Eleven stores nationwide. To use this service, taxpayers first obtain a PayNearMe bar code from ACI's officialpayments.com/fed site, choosing their IRS form and selecting the "Pay with Cash" option.
The bar code, which confirms the taxpayer information and is approved through the IRS, goes to the taxpayer's smartphone to scan at the 7-Eleven payment terminal at the time of the cash payment, the companies stated in an April 7 press release.
The taxpayer also can opt to have the bar code sent via e-mail to print. The message includes a list of nearby 7-Eleven stores that will accept the tax payment. The store clerk provides a receipt to the taxpayer, but essentially, PayNearMe is accepting the cash payment and delivering it to the U.S. Treasury.
"Our bill payment solution is quick, easy, reliable and secure, which is why OfficialPayments.com is the longest tenured bill payment site for the IRS, having processed $14 billion in IRS tax payments since 1999," Carolyn Homberger, group president of ACI Worldwide, stated in the release.
Payments are typically posted within two business days, however ACI advises users to initiate payment at least seven business days prior to the tax payment deadline to accommodate IRS identity verification requirements.
A taxpayer's federal payment in cash cannot exceed $1,000 per day or two payments per tax period. A service fee of $3.99 applies to each payment.