Some school children in the US have been punished for paying for their school lunch in pennies: it started as a prank, but the authorities didn't find it funny. But it leads to this question from James D. Miller:
Could you pay your taxes in pennies?
To which the answer, here in the UK, is no, you can't. Coins are only legal tender up to certain amounts. Apologies, I don't have the actual limits to hand, but it's something like pennies, up to 50p, 2 ps up to a pound and so on. People do not have to take coins for any amount, certainly not in the manner that they have to take notes.
However, the situation in the US is rather different. I once checked this out with the US Mint when I was having an argument with a particularly annoying bureaucrat over the payment of a fee.
Coins in the US are indeed legal tender. Yes, the taxman does indeed have to accept them for the settlement of any tax debt, however large. No, they do not have to be rolled or bagged: trundle the wheelbarrow of unsorted pennies up to the window and force them to count it. A truck load? They must accept it.
Sadly, despite the joy this brought to me, the idea of annoying taxmen so much, I was also told that paying one's taxes in this manner would almost certainly (however illegally) lead to one being audited.
So perhaps this is something only to be used by those who have indeed already just been audited?
Blogs: Americano | Coffee House | Clive Davis | Melanie Phillips | Stephen Pollard
Actions: Print this article | Email to a friend | Permalink | Comment
Post this entry to: del.icio.us | Digg | Newsvine | NowPublic | Reddit
Advertisement
Lessons for life from the Crash of ’73
David Young 12/12/2008 David Wilbourne 12/12/2008 Richard Northedge 12/12/2008Save money on your farm and cottage holiday by booking direct with the owner. We have a range of places...
Save money on your farm and cottage holiday by booking direct with the owner. We have a range of places...
PORTA METRONIA, ROME Standing high on the top of one of the seven hills of Rome- the Coelian- this unique
ROME and PARIS: over 350 holiday rentals apartments listed: visit www.romanreference.com and www.parisreference.com or call +39 0648 903612.
Goldsmiths by Design Welcome to Ruffs! You have found a company of Goldsmiths that specialises in the manufacture, amongst other
Spectator Business | Apollo Magazine
Corporate | Advertising | Privacy | Terms
Spectator, 22 Old Queen Street, London, SW1H 9HP
All Articles and Content Copyright ©2008 by The Spectator | All Rights Reserved