Be careful folks. Last year we sent in 4 estimated quarterly tax checks. When we filed in April we got a response from the IRS that we only submitted 3. The one from September was not credited. I pulled our bank statement and got an online copy of the check made out to the IRS. I sent this to the IRS. No good, the check WAS deposited, just not by the IRS. Now I have investigations started by the IRS, Consumer Protection Bureau, and our local Sheriff's Department. The local branch of the large national bank where the check was deposited was ZERO help. Their attitude was "Tough Luck". Now I have to pay that estimated tax AGAIN, plus penalty (for it not being paid by April 15) and now interest. GRRRRRR!!!!!
If you submit quarterly taxes check the back of your checks. It SHOULD have a) your social security number, or b) your federal tax ID number.
Andy
also a good argument for paying electronically.
Man, that is a bummer.
Makes you wonder how in the world somebody managed to cash a check to the IRS?
Maybe they will find out who got it, and get it back. Probably won't do anything for the penalty, though.
I don't know all of the ins and outs of check fraud, but I think that you can recover the stolen funds The corporate office of the branch that cashed the check needs to be notified. One of their employees may be a co-conspirator in the crime.
The IRS and sheriff will probably do this, but follow up.
Here's an information source: http://www.thenortongroup.net/nnotes1.html
I hate thieves and I hope you nail them.
From what I gather, banks now scan your posted check, deposit and such then submit that digital copy into your bank records.
I don't think they even look to see if the proper information is recorded of the signature or stamped information on the back of the posted check for following or being able to locate who deposited it into whose account.
I pay everything thru an online portal that will provide an instant printable receipt.
I used to worry about that until I started using https://www.eftps.gov/eftps/&apos ;">EFTPS.
I use to pay my monthly withholding (941) with the teller at the bank. Similar story. Bank took the money out of my account and U.S. Treasury showed no deposit under my account number. With all the paper trail I had it was evident that someone (as in bank employee) had probably typed in a wrong account number. It took almost six months for the bank to admit they were the last ones that had the money. By the time they made good, I had already paid the U.S. Treasury again...with penalties and interest. My bank declined to help me out with those charges. It's all electronic now. What really surprised me was my bank's reluctance to even attempt to contact or speak with the Treasury Dept...it made things awfully difficult.
Profits? What are those? Without them there is no need to worry about quarterly payments.
Holy Cow, post: 324210, member: 50 wrote: Profits? What are those? Without them there is no need to worry about quarterly payments.
unless you have employees
From the IRS Form ES-1040
'Make your check or money order payable to “United
States Treasury.” Do not send cash. To help process your
payment accurately, enter the amount on the right side of
the check like this: $ XXX.XX. Do not use dashes or lines
(for example, do not enter “$ XXX—” or “$ XXX xx100”).'
A Harris, post: 324148, member: 81 wrote: From what I gather, banks now scan your posted check, deposit and such then submit that digital copy into your bank records.
I don't think they even look to see if the proper information is recorded of the signature or stamped information on the back of the posted check for following or being able to locate who deposited it into whose account.
I pay everything thru an online portal that will provide an instant printable receipt.
Most banks never even see the check. They simply bundle them up and submit them to a third-party check processing facility who scans them and electronically process the money transfers. If you need a copy of a check the bank requests it from the third=party...