GOD DAMN IT!!!

[susandennis]

Crack and damn and blast and motherfucker. The credit union bounced my check to the IRS!!!!! I cannot fucking believe it. I am going to end up in the federal pen one way or the other, I swear it. Even when I try to do it right, I get if fucked up.

When I first got my return back from the CPA, I called my credit union to ensure that my automatic coverage was still in place. The check I needed to write was for $11,000. I thought it was silly to let $11,000 sit in my checking account for who knew how long so I left it in my savings account and the credit union verified that if checking ran out of money, they would go get it from savings without any intervention needed on my part.

See this fat ass? Covered. Right? WRONG!!!!!

I look at my credit union balances online at least every couple of days. Since I pay most everything automatically, I like to keep an eye on it. I put the tax return (and the check) into the mail last Friday. Today I see in my checking account a $20.00 fee for NSF!!!! What the NSFUCK??? My check to the IRS bounced!

I call the credit union barely able to breathe. Mary - was nice but, hey, it's a federal regulation - you cannot make more than 6 transfers a month. Show of hands... how many of you knew this???????? And don't you think, when I called they might have mentioned it?? Nope.

I am spitting bullets here - good thing she is in Portland. She tells me I can fax her signed instructions to make the transfer and she will. I did. That was 30 minutes ago. No action yet. I'm giving her 30 more minutes before I call back. I am steamed - really steamed. (At least she gave me the $20.00 back.)

Then I call the IRS. Now, this was an interesting experience. It took far fewer clicks to find the IRS telephone number than it did the Credit Union's. The telephone tree was short and simple. I was then instructed that there would be a short wait until someone would be on to direct my call. It was very short. And the woman was very efficient. She transferred me and there was no wait. The next woman was not only efficient but very nice and even offered sympathy for my plight and told me they always send the check through twice so if it only went through once, and the money gets into the account, I'll be fine.

Of course, I lost about 3 years off my life in about 20 minutes. Holey crap. What is it with me and the IRS this year? We've always gotten along fine before.

Comments

[fj.livejournal.com]

The IRS has had congressional hearings about being cold and hard to reach. Your CU has not.

[susandennis]

Well, they should!! I'm still spitting bullets and still waiting for them to update their website showing the cash is now in my checking account!

I actually thought there were congressional hearings on everything. Oh well. At least the IRS is obviously listening. I hope they let me pick my colors for my cell when they send me up the river.

[machupicchu.livejournal.com]

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No more than six transfers per month? Between checking and savings?? I certainly didn't know this. I guess it never occurred to me because, apparently, I make less than six transfers per month.

It still seems like a pretty useful thing to know.
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[davmoo.livejournal.com]

The 6 transfers thing must just apply to credit unions...because I've been known to make 6 transfers a *week* at my bank, and never had a problem and never had anyone say anything.

I was also going to say the same thing they told you at the IRS...they'll run the check at least twice before they call it officially "bounced", and in fact with most places its three times. But three is the limit.

To put your mind a bit at ease, even if it really had bounced all they would have done was add a bounced check fee and then call you and ask you to pay it again...in some form other than a check.

[susandennis]

After the fact, I did find this on the Credit Union Website:

The federal government has established Reg D in order to assure that financial institutions have adequate reserves (funds) set aside to maintain business. Financial institutions calculate their reserves (funds) based on the monies deposited into their member’s savings accounts. These include our savings, daily income and instant access accounts. The government has established the 6 automatic transfer restrictions on savings accounts.

But, good to know about what would happen if it really bounced. My first choice was to put it on a credit card in the first place. Plus I do have efts set up now so I suspect I might not have been jailed immediately, but I really don't want to be noticed by them anyway...

[katbyte.livejournal.com]

I have had pretty good luck with the IRS over the past couple of years. They really did listen, I think.

Now, about that file, what kind of cake did you want? Or better yet, a loaf of bread from Waning-Estrogen

[dizzdvl.livejournal.com]

Actually, you CAN make more than 6 transactions per month but they may charge you for them and they can inform you that you need to change your account to a checking account. Yes, fed regs say 6, but they can allow for exceptions, but their disclosure will say exactly what they allow.

Yeah, I knew it, but I am a banker and I wouldn't have known it otherwise.

This doesn't help after the fact, but get their account disclosure and read the section pertaining to your account. You can at least pitch a fit about the NSF fee (Oh, I re-read and you got that back.)

Oh, and I hope your credit union has learned to check your account now on regular basis. That's a nice chunk of change you had in there working for THEM. That's how they are able to make their money. Bastards.

[susandennis]

Yes, they do allow exceptions and that's what happened today. I could either come in and do it in person (very inconvenient for moi) or fax her a signed request - which is what I did.

I haven't figured out my future game plan. I guess I'll be keeping more money in my checking account from now on. As you say... Bastards!

[pheon.livejournal.com]

Hmmm. I just realized that I'm not sure if I have automatic transfer from savings (actually "Instant Access" aka money market) to checking or not. Because I once had a line of credit ---which I cancelled several years ago --- that was involved in that automaticity.

So, since I am just about to make my payment to the IRS --- nowhere near as big as yours, thank goodness --- I just manually transferred the needed money to checking.

[susandennis]

I had my 'instant access' coming out of my line of credit account until the first time they used it and I learned that the interested is compounded hourly. That's when I switched. I think I need to consider other options...

And I need to make sure there is enoug in there come April 15 when the IRS will be sucking out their quarterly estimated... arugh.

[treebreeze.livejournal.com]

Sweet jesus that aged me just reading it!!! Talk about stress!

[melodysk.livejournal.com]

Of course, I lost about 3 years off my life in about 20 minutes

Look Lady, at OUR ages we can't afford to DO that!!