|
Posted by Han on May 29, 2007, 10:44 pm
Please log in for more thread options
Here in North Jersey we have a local Citizens Association,
whose duties are social in nature. Our "revenues" are in
part from the organization that administers the business
part of our community, but mostly from contributions to
specific events that are organized by committees of said
Citizens Association. Our bank account does not have a TIN
as of yet, because we date from before such a nicety was
required. Unfortunately this means we can't go shopping
around for a bank that would be nicer for us.
Through the "merger" of the Bank of New York into Chase, we
are now faced with new charges. We have been told that
after the first 200 transactions, we will need to pay $0.40
per transaction as an "excessive transaction fee". I
believe that this is a monthly thing.
Question: If a check is made out to "Citizens'
Association", can the required 2 officers endorse the check
and make it payable to a person, so that we could use a
personal checking account to accumulate these checks, then
write out a single check for the aggregate amount and
deposit that? Of course, the treasurer will need to keep
accurate records. The question is whether this is legal,
not whether it is really advisable.
Thanks for your advice.
--
Best regards
Han
email address is invalid
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
<< ------------------------------------------------------- >>
| 
Yahoo! 
Google 
Windows Live 
del.icio.us 
digg 
Netscape 
XML Sitemap