Individuals who do not have bank accounts or credit cards can pay their federal income taxes with cash through IRS-approved partners. The list of these partners has been expanded (IR-2020-137). It now includes participating 7-Eleven stores, Ace Cash Express, and Casey’s General Stores.
Individuals who want to use this payment option must visit IRS.gov/payments online or via a mobile device and select the cash option in “Other Ways You Can Pay.” Instructions there detail the three-step process for using this cash option, including a required fee of $3.99 per payment and a cap on the payment amount of $1,000.
An individual who, because of his or her real estate activity, qualifies to deduct rental losses from nonpassive income.