Tag Archives: Electronic Deposit

The Check is in the Mail! … Nope, the Checks are Being Lost – Strongly Consider Electronic Deposits – Tax Payments – Friday

“The Check is in the Mail!”

Remember that good ole saying?

Well, today we are finding it is just not true …. They are getting lost.

Maybe this is some type of continuation of the extreme slowness in money we saw back in December that we mentioned here.

We are getting multiple contacts from all different parts of the country and the tax system, that payments to the IRS via good old fashion check are not getting there, and in some cases are 2 to 3 months delayed.

For those needing to Pay Q 4 ES 2020 payments next week ….

We should all strongly consider making direct deposits to the federal government via the IRS.gov website and for those paying in taxes to their state directly to your individual state  … make draws from your respective asset accounts directly to the state rather than trying to mail checks.

Between trouble with the postal system, new stimulus checks being issued by the IRS, and just a likely backlog due to remote workers .. the days of mailing the check the night of the due date may be in the past for our collective safety.

Preview – Friday

Next week we will take on some new tax facts and the stimulus check associated with the stimulus plan … items that you may need to know and can share with others too….

Ahhhhh…. but today is a Friday, enjoy your day and your weekend!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.

A Dallas Texas based fee only

Financial Planning Total Wealth

Management firm.