IRS lacks clerical competence to accept $100 million checks – so next year it won’t

IRS lacks clerical competence to accept $100 million checks – so next year it won’t

[Ed. – The country’s in the very best of hands.  Couldn’t they, like, hire someone from a big bank who knows how to handle really big checks?]

It seems the IRS can’t handle them any longer out of fear of people stealing some of the money.

Starting in 2016, the IRS will no longer accept checks for $100 million or more because the equipment at the Federal Reserve Bank that processes checks can’t handle checks for more than 8 digits. Checks larger than that have to be processed manually by hand, which, according to internal memos obtained by the Associated Press, could increase “the risk of theft, fraud and errors.”

Luckily there are very few entities cutting nine figure checks to the government — only 14 were written in 2014. Confidentiality laws forbid the IRS from identifying those individuals or companies, but should their income remain that high, and should any others be fortunate enough to have their income join them, they will have to pay their tax bill with electronic transfers of funds due to the new policy.

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