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Posted by xzebra06 on October 2, 2007, 12:10 pm
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I have a case where t/p with return under examination may
have to incur $400 to pay their bank to get copies of
checks, @ $3 a copy.
Is a bank required to provide copies of checks, free, for an
IRS audit/ examination? or is there some other way to reduce
or eliminate the bank expense for required copies?
If t/p cannot afford to pay for copies of checks, and a
petition is filed to tax court, can the copies then be
subpoenaed at no per-check cost?
Is there an applicable IRC section?
Thanks for any help.
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Posted by Paul Thomas, CPA on October 2, 2007, 10:09 pm
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> I have a case where t/p with return under examination may
> have to incur $400 to pay their bank to get copies of
> checks, @ $3 a copy.
>
> Is a bank required to provide copies of checks, free, for an
> IRS audit/ examination? or is there some other way to reduce
> or eliminate the bank expense for required copies?
Banks are not required to provide copies free of charge.
Ask the auditor if the mini-copies will suffice (if those
are available), and see if the bank can get those (10 - 12
per page) at a lower cost.
Talk to the bank about the final bill - in advance. They
might be willing to work the cost down due to the facts and
circumstances. That would depend on the client's
relationship with the bank of course. If you have any pull
there, see if that will help.
If all else fails, see what specific copies they want (front
and back of) and get only the minimum necessary.
> If t/p cannot afford to pay for copies of checks, and a
> petition is filed to tax court, can the copies then be
> subpoenaed at no per-check cost?
I doubt it. Then again, is going to court worth the
possibility of "saving" $400 or so?
> Is there an applicable IRC section?
The bank fees are not covered in the Code or Regs.
--
Paul A. Thomas, CPA
Athens, Georgia
<< ------------------------------------------------------- >>
<< 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 (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
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Posted by Harlan Lunsford on October 2, 2007, 10:09 pm
Please log in for more thread options xzebra06@aol.com wrote:
> I have a case where t/p with return under examination may
> have to incur $400 to pay their bank to get copies of
> checks, @ $3 a copy.
>
> Is a bank required to provide copies of checks, free, for an
> IRS audit/ examination? or is there some other way to reduce
> or eliminate the bank expense for required copies?
>
> If t/p cannot afford to pay for copies of checks, and a
> petition is filed to tax court, can the copies then be
> subpoenaed at no per-check cost?
>
> Is there an applicable IRC section?
>
> Thanks for any help.
Does the bank provide absolutely nothing in the monthly
statements? Not even a facsimili of the face of the check?
Come to think of it, I did hear this past year of one bank
which only lists amounts on statement and no photocopies of
checks or deposit slips.
ChEAr$,
Harlan Lunsford, EA n LA
<< ------------------------------------------------------- >>
<< 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 (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
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Posted by AES on October 3, 2007, 5:25 pm
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> Does the bank provide absolutely nothing in the monthly
> statements? Not even a facsimili of the face of the check?
> Come to think of it, I did hear this past year of one bank
> which only lists amounts on statement and no photocopies of
> checks or deposit slips.
Stanford Federal Credit Union: No copies of checks
themselves on paper statements, or on online statements,
except by clicking each check number individually and
opening up a window which you can view or download, and
which shows front and back of that individual check.
Not sure how far back this goes -- but some number of months
for sure, probably indefinitely.
<< ------------------------------------------------------- >>
<< 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 (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
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Posted by Harlan Lunsford on October 4, 2007, 5:56 am
Please log in for more thread options AES wrote:
>> Does the bank provide absolutely nothing in the monthly
>> statements? Not even a facsimili of the face of the check?
>> Come to think of it, I did hear this past year of one bank
>> which only lists amounts on statement and no photocopies of
>> checks or deposit slips.
> Stanford Federal Credit Union: No copies of checks
> themselves on paper statements, or on online statements,
> except by clicking each check number individually and
> opening up a window which you can view or download, and
> which shows front and back of that individual check.
>
> Not sure how far back this goes -- but some number of months
> for sure, probably indefinitely.
Ah so! a credit union. That the one case I mentioned above
which only lists amounts with no copies furnished.
Seems you're at the credit union's mercy in this case as
regards charges for backup paper. Lesson to be learned: use
a regular bank from now on.
ChEAr$,
Harlan Lunsford, EA n LA
<< ------------------------------------------------------- >>
<< 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 (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
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