No $100,000,000 checks!

[HFWR]

Leave off the 99 cents. Checks to pay taxes are rounded to the nearest dollar anyway.

Watched too many late night tv commercials.

That’s $19.95. Yes, $19.95. Only $19.95!

 

[Walt34]

Don't know if it's still the case, but there used to be plane loads of currency flown between USA and Europe and other far flung places.

And before ACH they used to fly airplane loads of paper checks to federal reserve branches for clearing. This was why you could get away with several day's "float" on a check - the time between when it was deposited at the recipient's bank and the money actually was removed from your account. A common fraud scheme was "check kiting" using that float to make money. It's illegal, but people tried it anyway. ACH took the fun out of that.

A guy I knew had a part time job flying a twin engine Ted Smith Aerostar, a high performance piston engine twin, from Frederick, MD to Richmond, VA where the federal reserve branch was carrying bags of canceled checks. As one can imagine, it got boring pretty quick and he quit.

 

[HFWR]

And before ACH they used to fly airplane loads of paper checks to federal reserve branches for clearing. This was why you could get away with several day's "float" on a check - the time between when it was deposited at the recipient's bank and the money actually was removed from your account. A common fraud scheme was "check kiting" using that float to make money. It's illegal, but people tried it anyway. ACH took the fun out of that.

A guy I knew had a part time job flying a twin engine Ted Smith Aerostar, a high performance piston engine twin, from Frederick, MD to Richmond, VA where the federal reserve branch was carrying bags of canceled checks. As one can imagine, it got boring pretty quick and he quit.

The less fortunate among us also used the float to hopefully have a few bucks hit their bank account before the electric bill check cleared.

 

[Koolau]

And before ACH they used to fly airplane loads of paper checks to federal reserve branches for clearing. This was why you could get away with several day's "float" on a check - the time between when it was deposited at the recipient's bank and the money actually was removed from your account. A common fraud scheme was "check kiting" using that float to make money. It's illegal, but people tried it anyway. ACH took the fun out of that.

A guy I knew had a part time job flying a twin engine Ted Smith Aerostar, a high performance piston engine twin, from Frederick, MD to Richmond, VA where the federal reserve branch was carrying bags of canceled checks. As one can imagine, it got boring pretty quick and he quit.

Heh, heh, flying as a j*b is probably one of those 99% boredom and 1% stark terror. Boring is good. May it ever be!

 

[HFWR]

Heh, heh, flying as a j*b is probably one of those 99% boredom and 1% stark terror. Boring is good. May it ever be!

I want to die peacefully in my sleep, like my grandpa, not screaming in terror like his passengers.

 

[Keim]

Drat. There goes my plan for paying this year's taxes.

Will need TWO checks.

 

[audreyh1]

Drat. There goes my plan for paying this year's taxes.

Will need TWO checks.

Sorry, you won’t be able to write checks to pay taxes anymore after Sept 30.

 

[MarieIG]

Sorry, you won’t be able to write checks to pay taxes anymore after Sept 30.

That's three estimated tax payments via check left. I suppose I'll still record my tax payments in my checkbook register as I'm used to looking there . . .

 

[cranberryjoe]

While the IRS won't accept a check for 100 million dollars, I will. DM me if you want to send me such a check.

 

[aja8888]

I accept checks if anyone cares to send one....

 

[ocean view]

The US Govt won’t be accepting checks after Sept 30 regardless.

U.S. Treasury to Eliminate Paper Checks: What It Means for Tax Refunds, Social Security

President Trump signed an executive order forcing the federal government to phase out paper check disbursements by the fall.

www.kiplinger.com

I interpret this article as to mean the US government will not longer issue checks (tax refunds, social security payments m, etc), not that they will stop accepting checks as a form of payment.

Am I missing something?

 

[Texas Proud]

And before ACH they used to fly airplane loads of paper checks to federal reserve branches for clearing. This was why you could get away with several day's "float" on a check - the time between when it was deposited at the recipient's bank and the money actually was removed from your account. A common fraud scheme was "check kiting" using that float to make money. It's illegal, but people tried it anyway. ACH took the fun out of that.

A guy I knew had a part time job flying a twin engine Ted Smith Aerostar, a high performance piston engine twin, from Frederick, MD to Richmond, VA where the federal reserve branch was carrying bags of canceled checks. As one can imagine, it got boring pretty quick and he quit.

It used to go even farther... a guy I know used to take large checks to the local airport.. he said that a black jet would land, taxi up to him.. he would pass the check into the pilot window and it would take off.. a quick turnaround...

Another one I heard about (and I could have failing memory here) was there was a bank in some out of the way place in Texas... only had morning processing so that even the airplane system could not get it there in time... some large company used them all the time... but one day someone got a check there early enough and the check was for more than the total assets of the bank!! The company had to scramble and get a wire to them to pay that check..

 

[harley]

I interpret this article as to mean the US government will not longer issue checks (tax refunds, social security payments m, etc), not that they will stop accepting checks as a form of payment.

Am I missing something?

You missed this paragraph from the article:

"Payments made to the federal government, like taxes, fees, fines, or loans, will also have to be made electronically, with limited exceptions."

 

[aja8888]

You missed this paragraph from the article:

"Payments made to the federal government, like taxes, fees, fines, or loans, will also have to be made electronically, with limited exceptions."

I would guess if you just felt appreciative of the government's ongoing performance and wanted to send a gift check to show thanks, they would cash it?

 

[Koolau]

I accept checks if anyone cares to send one....

I tried to send you a check for $50,000. (Sorry it couldn't have been more). BUT I realized I didn't have your address!

So I sent the money to my 2nd favorite charity instead.

 

[Walt34]

The less fortunate among us also used the float to hopefully have a few bucks hit their bank account before the electric bill check cleared.

When I was married to the ex-wife (AKA "Spendarina") I used that technique often. It wasn't illegal as long as there was no intent to defraud.

 

[JoeWras]

ah, the dreaded D100M coding problem, hate when that happens

I my head, I can see the COBOL code still running that forces this limitation.