cientax Posted September 21, 2009 Report Share Posted September 21, 2009 Client got irate with me at one point because he felt that I was working too slow with the OIC paperwork. He wanted to speed things up to get the offer in the system and get it over with. Client owes over $100K and we made an offer and client sent 20% check (about $18K) and now check bounces. What happens now or what do we do now? Does the offier get rejected now and do we have to start all over again? I really don't want to do it all over again and have to deal with him in this again, but then it is that time of year where it is pretty slow around here and I could use the cash and I will bill him again. Quote Link to comment Share on other sites More sharing options...
mlinder42 Posted September 21, 2009 Report Share Posted September 21, 2009 Can he make the check good now? If so I would call and replace the check with a cashier's. Quote Link to comment Share on other sites More sharing options...
cientax Posted September 21, 2009 Author Report Share Posted September 21, 2009 Can he make the check good now? If so I would call and replace the check with a cashier's. Yes we can make the check good and are going to replace it with a cashiers check and a letter from the bank hoping to avoikd having to pay the bounced check penalty. Client was in the process of changing accounts at time check reached the bank. Our concern is whether the OIC will be rejected because of this. Any experience in this matter concerning the OIC and bounced checks? Quote Link to comment Share on other sites More sharing options...
mlinder42 Posted September 21, 2009 Report Share Posted September 21, 2009 I would put the same post on taxbook.com and see if someone answers.NYEA posts on that sight and he has a lot of insight in these matters. Quote Link to comment Share on other sites More sharing options...
TAXBILLY Posted September 21, 2009 Report Share Posted September 21, 2009 http://www.thetaxbook.com taxbilly Quote Link to comment Share on other sites More sharing options...
Lion EA Posted September 22, 2009 Report Share Posted September 22, 2009 Preparer Hotline. Quote Link to comment Share on other sites More sharing options...
joanmcq Posted September 23, 2009 Report Share Posted September 23, 2009 Call the agent working on the offer. If no one is assigned yet, speak with whomever answers the phone and explain. and explain to your client that offers take a long time and coordinating all of the necessary paperwork is essential to even getting it considered, much less accepted. If he doesn't appreciate your thoroughness....make sure you bill him for every second you are on hold while you try to straighten HIS mess out. Who the heck changes banks when they have an 18K check to the IRS outstanding????? And if he did change banks, is the 433-A still up to date? Quote Link to comment Share on other sites More sharing options...
jainen Posted September 24, 2009 Report Share Posted September 24, 2009 >>what do we do now?<< I doubt that the OIC unit even knows the check didn't clear. Just apologize and replace it with a valid check. It's no big deal. Quote Link to comment Share on other sites More sharing options...
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