Or nickels, dimes, etc.?
I have a five figure tax bill coming up and I'd love nothing more than to dump a truckload of pennies in the IRS lobby.
2007-05-15 07:05:02 · 11 answers · asked by Izzy F 4 in Business & Finance ➔ Taxes ➔ United States
There's no limit. A merchant is entitled to restrict payment methods---apartments often don't accept cash in payment of rent, and fast-food joints won't take bills larger than $20---but as far as I can tell, your way to legendary status as a pain in the IRS's neck is clear.
The Internal Revenue Manual
Part 21 - Customer Account Services
Chapter 3 - Taxpayer Contacts
Section 4 - Field Assistance
says:
"21.3.4.7.2 (04-01-2007)
"Cash Payments
"1. The IRS must accept cash payments from taxpayers who do not have a check or money order, are unable to obtain one, or insist on paying in cash."
This is followed by
"21.3.4.7.2
"Procedures For Accepting Cash Payments
"1. General procedures for accepting cash payments are:
"A.Ensure that the taxpayer has the exact amount of the payment. DO NOT MAKE CHANGE.
"B. Count the cash carefully in the taxpayer's presence..."
Enjoy !
P.S. Here are some brothers in arms:
Court settlement paid in pennies
http://www.usatoday.com/news/offbeat/2007-04-11-pennies_N.htm
Rusty Wallace once paid a fine (for swearing) in pennies
http://cbs.sportsline.com/autoracing/story/9048981/rss
Parking ticket paid in pennies
http://www.zwire.com/site/?brd=1769&pag=461&dept_id=74958&newsid=17484015&rfi=15
2007-05-15 08:02:27 · answer #1 · answered by melissakd 2 · 64⤊ 2⤋
tax = slavery
2014-06-02 08:44:26 · answer #2 · answered by Richie 1 · 0⤊ 2⤋
Its 1 ounce the legal age is 21 and its not like AZ, against federal law because Marijuana isn't illegal in federal law, only in the state laws. AZ's law was ended because it was segregation which is against the Bill of Rights, there is nothing on the federal level prohibiting marijuana. And yes its completely rational to think it will be sold to kids, soon it will be sold at school cafeterias just like tobbacco and alcohol. Come on if we can restrict alcohol and tobacco we can do the same for weed.
2016-03-19 05:34:31 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I don't think there is a legal limit, but at 5 figures, that is in the MILLIONS of pennies. Don't be surprised if you are 'randomly' selected for an audit the next 20 years.
EDIT: I just noticed the requirement to count the money WITH THE TAXPAYER present. At 1 penny per second, that is over 3 years non-stop. They may just decide to manually count your payment in shifts. YOU can plan on being in the office for a LONG time.
2007-05-15 13:30:34 · answer #4 · answered by STEVEN F 7 · 35⤊ 1⤋
Legally, there is no limit under federal law, according to the currency act of 1965.
2007-05-15 07:25:03 · answer #5 · answered by Anonymous · 17⤊ 0⤋
can anyone tell me what is the correct answer for this question?
2016-08-24 02:25:46 · answer #6 · answered by ? 4 · 0⤊ 0⤋
There is no limit.
But really... all it does is piss off some $8.50 /hr clerk that has to count it. Do you really want to take it all out on him/her.
Look at it this way. If you owe all that money you made a good living. I always say I would rather have to pay a lot of taxes then be dirt poor.
2007-05-15 07:07:53 · answer #7 · answered by PJ 5 · 30⤊ 4⤋
Have fun carrying them in, and up to whatever floor their cash desk is on.
2007-05-15 08:27:23 · answer #8 · answered by Judy 7 · 13⤊ 3⤋
i dont think there is a limit as long as it is american currency you should be fine..it just depends on who you are paying to....why dont u cash it in the bank or coin star machine instead...good luck
2007-05-15 07:12:47 · answer #9 · answered by SparkleZ 2 · 6⤊ 8⤋
i don't know if there is a limit. But i know that would be F-ing awesome!!!!
2007-05-15 07:09:52 · answer #10 · answered by Holla! 1 · 14⤊ 3⤋