What happens if the check I send to IRS bounces?
- RICKLv 71 year ago
Penalties for not paying on time
Interest because it hasn't been paid
Two bounced check fees, one from the IRS and one from your bank
- ErikLv 71 year ago
they send some guys to your house
- Beverly SLv 71 year ago
They you will owe penalties & interest and late fees.
- kelby7670Lv 71 year ago
Checks written to the Government do not bounce. You bank will pay the IRS. Any penalties and fees are between you and your bank.
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- CarsonLv 61 year ago
They'll hunt you down... :)
You'll pay a fee to the bank, to the IRS and it will start adding interest from today until you pay it.
- NALv 71 year ago
Unless you can prove it was your bank's mistake, you:
1) Get a NSF fee that is the greater of $25 or 2% of what the check was for, whichever is greater.
2) You still owe and trigger late payment penalties and interest.
Note for the naysayers, I double checked this in the Internal Revenue Manual before I posted anything.