Maximum payment to IRS

[NoMoreE46]

I happened to see this fun fact while reviewing my taxes. 

The maximum payment that the IRS will accept in a single check is  $99,999,999.99.  So if you happen to owe them  $100 million or more, you will have to scratch out the additional amount on a subsequent check...

[tcbofade]

Good to know.

I'll have to write TWO checks later this week...  

[NoMoreE46]

Haha

Make sure you write small to

fit all of those words/numbers on those

checks.

[Kforce]

Wonder how many time this has been a problem

[pizzadude]

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@Kforce wrote:

Wonder how many time this has been a problem

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I doubt his accountants wrote checks but if they did, it would be like 110 checks

[cashorcharge]

SO Thankfully you told me this as I'm getting ready to drop that check in the mail on the 15th.

Too bad I couldn't use my AMEX instead 

[NoMoreE46]

The  IRS does accept credit card payments via three third party entities.  Fee is about 2%.

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@cashorcharge wrote:

SO Thankfully you told me this as I'm getting ready to drop that check in the mail on the 15th.

Too bad I couldn't use my AMEX instead 

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pizzadude

 

Credit Mentor

‎10-04-2024 02:43 PM

Re: Maximum payment to IRS

 

@Kforce wrote:

Wonder how many time this has been a problem

I doubt his accountants wrote checks but if they did, it would be like 110 checks 

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX

Also, payments can be made in person but that max is only  $1,000 per day. 

[Thomas_Thumb]

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@NoMoreE46 wrote:

I happened to see this fun fact while reviewing my taxes. 

The maximum payment that the IRS will accept in a single check is  $99,999,999.99.  So if you happen to owe them  $100 million or more, you will have to scratch out the additional amount on a subsequent check...

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If that's the case anf $100M is owed, your tax accountant screwed up. Clearly a mistake for such high income/net worth individuals to owe taxes. The accountant needs to be fired. Consider filing for bankruptcy.

Get a new accountant to show there was a loss, not a gain in adjusted gross income. Those shell company proceeds were incorrectly reported!

Furthermore those DJT shares that were sold dropped 50% in value from the issue date. What -  you say I owe taxes on the proceeds because records show the shares were awarded to me. That's not right, I lost a lot of money!

[keeno1970]

My 941 payroll taxes are automatically withdrawn out of Quickbooks so I really don't see it. All I know is I wave bye bye to about $5,000 every month.