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Ed Johnson
Ed Johnson, Tax Preparer
Category: Tax
Satisfied Customers: 10760
Experience:  GPHR Cert; U.S. Treasury Tax Advocacy Panel appointee
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DEPOSITING A JOINT TAX RETURN

Resolved Question:

PLEASE ADVICE ..
Can I Deposit a Joint Federal & State Tax Return Check made out to my Husband & I into a non Joint Acount in My name If Both my Husband & I sign the Check ?
Submitted: 7 years ago.
Category: Tax
Expert:  Ed Johnson replied 7 years ago.

DearCustomer

If both you and your husband sign the check, you can legally deposit it to your account. However, some banks may have an internal rule or safe gaurds that require joint checks to be deposited into joint accounts.

There is one way around this. If a spouse is on the signature card for your single account, to make deposits, then no bank will have an issue. You can sign for people to make deposits, withdrawals or both.

Also, if your endorsement reads like this, it would most likely be honored at every bank:

"For Deposit Only to the Account of [Your Name], NAme of Bank, account number."

Then each of you sign and date the check under your signatures.

Customer: replied 7 years ago.
Reply to Ed Johnson's Post: BOTH MY HUSBAND & I HAVE SIGNED & DATED THE RETURN CHECK.
IF DEPOSITED ELECTRONICALLY.HOW DO WE KNOW IF WELLS FARGO HAS THE SAFE GUARD POLICY & WILL ALLOW THE CHECK INTO A SINGLE ACCOUNT.MUST THE ENDORSEMENT BE WRITTEN ON THE BACK OF THE CHECK BY MY HUSBAND OR BY ME.
Expert:  Ed Johnson replied 7 years ago.

Wells Fargo will allow the check to be deposited to your account allone as long as both husband and wife appear together at the bank, and sign the check in the presence of a teller. If the check is already signed, you have to appear together to make the deposit, so that each of you can prove your identity to the teller.

Unfortunately, with Wells Fargo, you will not be able to do this electronically.

Had you made arrangement with the IRS and the state for electronic deposits to your account of the tax return, you could have done this when you filed your return. In this case, no endorsement or physical appearance to the bank would have been necessary.

Both husband and wife must sight the check on the back.

 

 

Customer: replied 7 years ago.
Reply to Ed Johnson's Post: Dear Ed,
Thank you for your response
The reason for my Question is that
My Husband left today to go abroad on business & signed the check prior to leaving.I suddenly had the realization that I may not be able to deposit it into a single account.Thats why I asked if it could be done electronically as hes only back in a month.
Have you any Idea What Banks in Los Angeles CA would permit me to bank this without his presence but with both our signatures.
Kind Regards
Expert:  Ed Johnson replied 7 years ago.

Dear XXXXX,

That is not something I can do. The banks would have to be asked, and there are far too many banks for me to research that.

However, there are some options. None of them are ideal because it would take a while to get your money.

1. If your husband signed the check already, and there is room, you can add the deposit instructions at the top of the endorsement area. Then, mail the check to Wells Fargo. What you will do is try to force Wells Fargo to accept the check for deposit. When they receive it, they will either deposit the check or return it to you. If they deposit the check, you will not have access to the money until it clears plus a few days. The hold period may be 15 days or longer in your situation.

2. You can have your husband express mail you his power of attorney to deposit the check for him with specific instructions to place it in your account. Make sure the POA is signed by him and noterized, and is an original.

3. You can contact the IRS and let them know your husband has gone over seas and you cannot deposit the check. Can you return the check and get them to electronically deposit the funds.

 

 

Expert:  Ed Johnson replied 7 years ago.

That is not something I can do. The banks would have to be asked, and there are far too many banks for me to research that.

However, there are some options. None of them are ideal because it would take a while to get your money.

1. If your husband signed the check already, and there is room, you can add the deposit instructions at the top of the endorsement area. Then, mail the check to Wells Fargo. What you will do is try to force Wells Fargo to accept the check for deposit. When they receive it, they will either deposit the check or return it to you. If they deposit the check, you will not have access to the money until it clears plus a few days. The hold period may be 15 days or longer in your situation.

2. You can have your husband express mail you his power of attorney to deposit the check for him with specific instructions to place it in your account. Make sure the POA is signed by him and noterized, and is an original.

3. You can contact the IRS and let them know your husband has gone over seas and you cannot deposit the check. Can you return the check and get them to electronically deposit the funds.

 

 


Customer: replied 7 years ago.
Reply to Ed Johnson's Post: THANK YOU FOR YOUR ADVICE ...
IS THERE A SPECIAL POWER OF ATTORNEY FORM OR CAN MY HUSBAND GO TO ANY NOTARY IN ISRAEL.
Expert:  Ed Johnson replied 7 years ago.

A general Power of Attorney will do, but he needs to make sure the POA contains the words specifically to negotiate joint Income tax refund check. The POA can also be limited to this one item.

However, when I was in the Military, I required all of my soldiers on deployment who had families to execute general POA's for their spouses who were remaining at home. We referrred to this as family readiness.

For your husband's deployment as it were to Israel, I would say he needs not only a general POA, but also a living will, AND a regular will.

In many cases, the company a person works for has their own notary which employees can use. However, any notary would work.

You need to also know, that a POA is not absolute. There is nothing in law that absolutely requires the person at the bank or any other person to accept the POA.

You still may not be able to access the funds for 10 to 15 days after the check is deposited.

In your situation, I would make sure the indorsement carred the for deposit only statement that I indicated earlier, and MAIL in the check. At the same time, I would obtain your husband's POA. It will most likely take a week or two to get the POA anyway. By then the check would have cleared. If it doesn't, and they return the check, then you will have the POA with which to try again in person.

Ed Johnson, Tax Preparer
Category: Tax
Satisfied Customers: 10760
Experience: GPHR Cert; U.S. Treasury Tax Advocacy Panel appointee
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