Received a check w/notice 54?
I received a check for an amount higher than I came up with that stated I would receive a notice in a few days explaining why the amount is different. That was over a month ago and I'm dubious about cashing the check w/o this additional info since I do not agree. And it states that if it is too high, I could be charged interest on the amount.
Should I return the check??
- Casey YLv 71 month ago
Who sent you the check? If its from an untrusted source...expect it to be fake.
- 1 month ago
If you are concerned, cash the check and hold back the amount that you think is higher. If you receive no further information in six months it is ancient history.
- NALv 71 month ago
Don't cash the check from the IRS until you know why it changed. If the IRS made error, you may owe it all back and it's easier to mail the check back than write a new one (you won't get dinged for interest or penalties).I see no one else knew what a notice 54 was.
- ArimatthewdaviesLv 71 month ago
Now you should not return the check cash the check and keep the amount that you should keep retain the letter and make a copy of the check and staple it and put it in a safe place if you receive a notice that the amount that you received was too much you have that amount that's too much sitting in your savings account you can return the money overnight and you can contest the amount of interest that they're charging you based on the letter they can only charge you interest on the amount that is too much! They're not likely going to say we overpaid you once they decided in your favor.
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- Coffee DrinkerLv 71 month ago
What is the source of the check?
I mean are we talking about an insurance reimbursement for a medical bill? A settlement from a lawsuit or accident? A random check that just showed up out of nowhere? A tax refund?
Call the company that issued the check and ask for clarifying information.
You are being very smart about this. If the company made a mistake and paid you more than owed, they can demand repayment of the excess funds and in some cases they can charge you interest if you don't repay them promptly.
So yes, contact the company issuing the check, get clarification (preferably in writing) of the amount.
- David B.Lv 71 month ago
I would contact the bank that the check is drawn on to verify that the amount is available and the account is valid. If both check out I would just deposit it in your account.