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How to cash a check for a my business that doesn't exist anymore?

Customer Question
I received a United States...
I received a United States Treasury check for a business that hasn't had an account for three years. I can't cash it unless it is issued in my name. Thank you!

Keely Sims
Sun Sweeties
XXX-XXX-XXXX [email protected]
Submitted: 6 years ago.Category: Tax
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Answered in 14 minutes by:
2/1/2011
Tax Professional: Stephen G., Sr Income Tax Expert replied 6 years ago
Stephen G.
Stephen G., Sr Income Tax Expert
Category: Tax
Satisfied Customers: 7,245
Experience: Extensive Experience with Tax, Financial & Estate Issues
Verified
Hi & thanks for using our service. I'll do my best to give you a complete & accurate answer. Please ask me to clarify anything you don't understand.

What was the check for?

How much is it for?

Is it made out to a corporation?

Who owned the corporation?

Who was the President & Treasurer?
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Customer reply replied 6 years ago

The check was for 817.34. I was the owner and President of the corporation. What should I do? What can I do?

 

Keely Sims

Customer reply replied 6 years ago

I sent you the information you requested. What is up?

 

Keely Sims

Tax Professional: Stephen G., Sr Income Tax Expert replied 6 years ago
sorry, I was tied up with another customer on an a complicated estate matter
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Tax Professional: Stephen G., Sr Income Tax Expert replied 6 years ago

have you tried to cash the check already?

What was the check for, ie. a refund of what?

You should be able to endorse the check as

XYZ corporation by
Keely Sims, President (& Treasurer if you were)
Pay to the order of Keely Sims
then sign your name
"Keely Sims"
for deposit only (list your bank account)

You can always deposit it, the bank doesn't like to cash these checks this way; but they should take it & present it for payment & then remove any hold in your account for it;

Please remember to "Accept", it is the only way we get credit for our work. Feedback, if you have time, and bonuses, where you think they are warranted, are always most appreciated.
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Customer reply replied 6 years ago

The bank won't cash it because it is made out to my company name. They say I have to get the IRS to reissue a check in my name. How do I do that?

 

Keely Sims

Tax Professional: Stephen G., Sr Income Tax Expert replied 6 years ago
What do you mean "cash it"?

What is the check for?

It is highly unlikely that the IRS will reissue the check.

Did you try & deposit the check as I suggested? That should work.
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Customer reply replied 6 years ago

Yes, I already tried that. The check was for business taxes after the company was closed from the Treasury Department. What can I do? My bank (BofA) won't cash it or let me deposit it.

 

Thanks,

Keely Sims

Tax Professional: Stephen G., Sr Income Tax Expert replied 6 years ago
What, you had overpaid the taxes?

Who did you talk to at the bank?

They should be willing to present the check (to the Treasury) for payment & only then give you credit for it.

Make sure he understands that you are willing to wait for the check to clear the Treasury. That way the bank isn't at risk at all.
These banks are turning into a giant PIA.

You should talk to the manager & tell him this is what your CPA told you to do. Bring your old corporate papers with you that shows you were the president of the corporation.

The IRS isn't going reissue the check. You'll have even less luck with them.

The only other alternative is to open a corporate bank account, deposit the check, wait for it to clear, and then write yourself a check and then close out the account. A complete waste of time & energy.

That check should have been issued long before now unless you didn't file the corporate tax return until real late.

I don't know what else to tell you; the alternative is to write a letter to the IRS explaining all this, but you would have to include the check & you would probably never see it again or the money.
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Customer reply replied 6 years ago

And what if I can't locate the corporate papers?

 

Keely Sims

Tax Professional: Stephen G., Sr Income Tax Expert replied 6 years ago
Well you should be able to get a copy of your last annual report from the Secretary of State & you'll have to use that, or if you used an attorney to form the corporation, he should have a copy of the incorporation papers.

Please remember to "Accept", it is the only way we get credit for our work. Feedback, if you have time, and bonuses, where you think they are warranted, are always most appreciated.
Stephen G.
Stephen G., Sr Income Tax Expert
Category: Tax
Satisfied Customers: 7,245
Experience: Extensive Experience with Tax, Financial & Estate Issues
Verified
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Stephen G.
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