If you owe money to the IRS, can you write multiple checks? The instructions on page 60 say "Make your check or money order payable ... for the full amount due", but it seems they can as easily cash 2 checks.
wrote
Clearly you think like a sane individual. But remember that the goal at IRS is to have all the checks from today's mail in the bank before 2pm. So when they open the envelope and pull out one check, they've done their job and stop looking for a second check. May I suggest you transferring the funds to one account, and write one check, so "the machine" feels good when they find one check and you don't get upset when the notice of underpayment of taxes arrives several months later.
Nothing wrong with this, as long as you put in the remarks section purpose of the check and a TIN.
After all, U S Treasury makes allowance for splitting a refund into three different accounts. "What's sauce for the goose is ... uh.. something for the goose". (How does that go?)
ChEAr$, Harlan Lunsford, EA n LA
Why are you having to write two checks--don't you have enough money on one account to cover what you owe? I think you are asking for trouble if you do that. Remember that the IRS is a giant bureaucracy. Anything confusing or out-of-the ordinary will either get mixed up or will ring a bell. You must be a young person who has never gotten mixed up in a bureaucratic snafu because some small detail went awry. IMHO move the $$$ you owe into one account and write one check.
They will cash/deposit as many as you send in!!!!
========================================= MODERATOR'S COMMENT: Please trim all that extra stuff before posting.
It's something like that George.
Careful, or the IRS might goose you!
(Couldn't resist that line.)
On the 1040-V, indicate how many checks comprise the total - in th top left margin.
========================================= MODERATOR'S COMMENT: Quack!
So could I connect the checks together with a paper clip or staple? Transferring money between accounts takes up to 5 days, which is a lot if you're paying interest.
In article , snipped-for-privacy@yahoo.com (sandybeth) writes: | On Feb 23, 5:41 pm, " snipped-for-privacy@yahoo.com" wrote: | > If you owe money to the IRS, can you write multiple checks? The | > instructions on page 60 say "Make your check or money order | > payable ... for the full amount due", but it seems they can as easily | > cash 2 checks. | | Why are you having to write two checks--don't you have enough money on | one account to cover what you owe?
I've done this a couple of times when the total amount exceeded the FDIC insurance limit. Never heard a complaint from the IRS... (I actually had an account at a bank that failed so I'm a little sensitive about staying under the limit.)
Dan Lanciani ddl@danlan.*com
Paul Thomas gave you good advice. By the way, I'm able to transfer cash between accounts at different financial institutions in about 10 minutes. Admittedly, those two institutions are only 10 minutes apart by car.
Huh? What does interest have to do with it?
Are you saying that you owe the IRS for past due taxes from previous years and you are being charged interest on the unpaid amount?
Even if that is true, 5 days interest cannot amount to much unless you owe a great deal of money.
Bill Brown wrote in news:0b661d3d-a921-47d1-ba14- snipped-for-privacy@72g2000hsu.googlegroups.com:
Umm, a check presented for deposit may take more than 24 hrs to clear and be available for withdrawal. But, indeed, if you send a paper check to the IRS by snail mail, you should be able to transfer the money by physically presenting checks to the bank on which you draw the money if you do so at least 1 full business day before you mail the check to the IRS (I think).
I once knew a guy who would take a hole-punch, and punch a hole in the account number on checks he'd send to the IRS. It always took them a few more days to clear, but he never heard a complaint about it.
Stu
"Stuart Bronstein" wrote
It's my understanding that the IRS still uses equipment that can tell if there is a check enclosed by sensing the magnetic ink on the check. This even through however many numbers of pages the return might be. It was once said that you could "demagnetize" the check with a common demagnetizer (from Radio Shack, etc) and it would be days before the IRS realized you had a check in there and processed it for deposit.
This was hesitantly confirmed the last time I did a pipe-line tour of the facility in Doraville. They don't like it, but it apparently happens often enough.
I would think they'd honor the *payment date* as the date mailed instead of the date they realized the envelope contained a payment. But I wouldn't push it if it's a payment going up against the due date.
Let me rephrase that to be a bit more specific. I'm able to transfer currency between accounts at different financial institutions in about
10 minutes.Bill Brown wrote in news:bea72111-773e-484d-aa3d- snipped-for-privacy@b1g2000hsg.googlegroups.com:
That must be a wire transfer, and isn't that fairly costly?
No, because the two financial institutions are 9 minutes apart by car.
BTW, currency is folding money, not something that can be transferred in any way other than picking it up and physically carrying it from one place to another.
Dick ... surely you meant "Honk!"
Katie
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