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Author: 500PSI Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121144  
Subject: Re: bank bounced check to irs Date: 4/24/2004 9:28 PM
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lethean I would ream my bank. When we first opened our account we had the routine hold. However, they would always tell me explicitly when I made deposits if there was a hold. Now they generally don't hold even large checks (50K plus) because of the activity of the account. If they did put it on hold, I would expect them to tell me. In addition, even when they have been on hold in the past, I have been able to speak to my business banker who has the authority to take it off hold. I bank with Wells Fargo.

In my opinion, your bank should have notified you of the hold, in the worst case they should be willing to write a letter to the IRS explaining the problem and waive any associated bank fees. In the best case they would pay the IRS penalties (doubtful).
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