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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
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Experience:  10 years experience
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I sent irs a check. its 37368.52 the check bounced back due

Customer Question

hello there. i sent irs a check for taxes. its 37368.52 the check bounced back due to account being short 13000. i saw it bouncing back this morning and immediately put in 13k to that account and talked to bank. the bank told me that it is certain the check has bounced back and the money is coming back tomorrow morning. does irs resubmit the check again, what is the penalty, what shall i do? this is personal tax
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Submitted: 1 year ago.
Category: Tax
Expert:  emc011075 replied 1 year ago.

Hi. My name is ***** ***** I will be happy to help you.

It is at the discretion of the clearinghouse but the dishonored checks are frequently resubmitted to the bank. If it doesn't go through the second time, you will receive letter 608C - Dishonored Check Penalty Explained from the IRS. The penalty is 2% of the check balance, minimum $25.

You may request Penalty abatement if it was not your fault.