Wal-Mart to Cash Tax Rebate Checks For Free

NEW YORK -- Wal-Mart Stores Inc. on Tuesday unveiled its plans to entice U.S. shoppers to spend their tax rebates in its discount stores, offering to cash the checks for free, Reuters reported.

The world's biggest retailer said no purchase will be necessary to cash the checks at its customer service desks or in its MoneyCenters -- financial services centers it operates in its stores, Reuters reported.

The retailer has cut prices on key grocery and other items like shampoo, juice and sports drinks, to coincide with the distribution of the rebates, Reuters reported.

Sears Holdings Corp is offering a 10 percent bonus if customers convert their entire stimulus check into a Sears or Kmart gift card. For instance, if the check is $600, Sears will give consumers gift cards totaling $660, Reuters reported. Retail food chains Kroger and Supervalu Inc. will allow customers to exchange their check for a store gift card loaded with extra money.

-- NYSSCPA.org News Staff

Posted on 4/29/08