0
You should know that this is done the IRS and the trustee each receives an information showing the amount of income that was received for the year and that information would be used to report the income on the trust income tax return.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
What is a Check Report used for?
There is really no such thing as a check report. There are check reporting services such as ChexSystems that businesses and banks may use before accepting a customer's check.
What is credit report .gov for?
To learn what a credit report .gov is used for check with the gov that issued it You can also check Wikipedia for more information on what a credit report .gov is used for as well
Are there really any companies that you can get your credit report from for free?
Some banks will check your credit report for you. There are also some companies that will send you a report at certain intervals.
Will issuing bank replace a stale date check?
No. Only the person who issued the check to you can replace the stale dated check. Banks do not have any authority to reissue state dated checks to people to whom checks were issued by their account customers. You need to contact the person who gave you the check and ask for a replacement check.
Which mortgage companies should one compare rates?
"You need to check with banks in the town you live in, or banks that are close to where you live. You will get different rates on different amounts and different credit scores."
What is the definition of a check cashing fee?
A check cashing fee is a fee that the bank will charge you when you deposit a check issued by a customer of another bank into your bank account. This fee is charged only if: a. The check that is deposited is an outstation check (Not from the same city/state where you have the bank account) b. The check that is deposited is an International check (From a different country and/or in foreign currency) In cases where the checks are issued by other banks in the same city/state or by a different branch of the same bank, banks do not charge any fee for cashing checks.
How long does it take for IRS check to clear?
Different banks will have different policies for clearing government checks depending on the amount of the check. Fraud using checks designed to look like they are issued by the US Federal or a State government is widespread, and while many banks will clear checks in relatively small amounts within 3-4 business days, larger checks may be held for up to 21 days to make sure they are genuine.
If you failed to deposit a check issued over six months ago but still have the original check and can mail it back to the payor is the payor bound by law to draft a new check?
The payor is not bound by law to issue another check. The check was legal tender that you could have cashed at any time. Some banks will still cash a check that was issued over six months ago.
Do banks honor check written before a person dies?
Yes they do. As long as the check is valid and does not have any problems like signature mismatch or overwriting in the check or insufficient balance, the bank will honor the check and make the payment to the person to whom the check was issued.
Do you have to cash your check from your job at the bank?
I guess Yes. Banks are the only place you can cash a check. Since it is your paycheck from the job, the check will be from a bank account of your employer. So to cash it you either need to visit a bank that you have an account or visit the bank that issued the check to get the cash from the check.
When do checks expire?
Whether a certified check expires or not will depend on the bank that issued the check. Some banks put an actual expiration date on certified checks, but many do not. In reality, the check has already been paid for, so it shouldn't expire at all.
What is the maximum allowable amount of a cashiers check without the IRS being notified?
Banks are supposed to file a Cash Transaction Report (CTR) for CASH transactions in amounts over $10,000. The key is CASH. The purpose is to track potentially unreported income. If the money for the check comes out of funds already on deposit at the bank, a CTR is not "required". That does not mean that a teller can not file a CTR in that case, but it is not required.
