Revenooer Rants: Pick up a donut and pay your taxes! (opinion)
The Revenooers are just trying their hardest to make things easier on you, as tax payday looms on next Monday.
If you want to take them up on the deal, first check out http://www.irs.gov for the details of the official PayNearMe program and await IRS email in which they will provide you a payment code and instructions.
Then, just mosey down to your local 7-Eleven store and hand over some dough to the clerk, who will promptly see to it that Uncle Sam gets the shekels! There is, of course, a small fee for this convenience – $3.99 per payment. Payments are limited to up to $1,000 per day.
IRS continues to remind taxpayers to be on the lookout for identity thieves – folks will only receive a confirming email from OfficialPayments.com or PayNearMe if they have initiated the payment process.
If you do receive a contact that looks suspicious, contact email@example.com right away. And if the internet befuddles you, contact PayNearMe customer service at 888-714-0004.
And get this – IRS recently withdrew regulations proposed last fall which would have put into place an optional donee reporting procedure for substantiating charitable donations of $250 or more.
The proposal was controversial because donee organizations which elected to use the procedure would have had to obtain, store, and send to the IRS donor social security numbers, thus creating identity theft risk.
And don’t hold your breath if you’re waiting for a refund of 2015 taxes from California. The Franchise Tax Board says some folks may experience delays in receiving those refunds because of extended processing times necessary to protect taxpayers from fraud, tax theft and other abusive practices.
Finally, this week, as you write that big check, know that an estimated 45 plus percent of American households (some 78 million) will pay no (zip, zero, nada) Federal individual income tax for 2015, according to data recently released from the Tax Policy Center.
And if you’re in the top 1% of tax-payin’ folk, you’ll pay a higher effective income tax rate (about 23% per Tax Policy Center 2014 stats) than any other group – nearly seven times higher than folks in the bottom 50%!
CONSULT YOUR TAX ADVISER – This article contains general information about various tax matters. You should consult your CPA regarding the implications to your own particular situation. Jeff Quinn is a CPA, recently retired from Ashley Quinn, CPAs and Consultants, Ltd., with offices in Incline Village and Reno. He welcomes comments at firstname.lastname@example.org.