NASSAUSUFFOLK

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  • 1.  Refund of overpayment

    Silver Most Valuable Member
    Posted 03-02-2020 10:15 AM

    I have a client who had a subchapter S Corporation for which we are   E-filing a final 1120 S for 2019.

    There was no income and a few thousand dollars of expenses for 2019

    He had closed the bank account September of 2019.

    We have a refund due from NYC for Estimated taxes, (from a 2018 overpayment) with no business account to deposit it to.

    I called NYC & left message, but did not get a call-back.

    If I put the sole shareholder's banking information on the return will the deposit go through? If not, what are my other options?

     

     

     

    Mark Meyerowitz ,C.P.A.

    Meyerowitz & Meyerowitz

    Certified Public Accountants

    2 B Elm Drive

    Farmingdale, NY 11735

    Phone 516-379-2770

    Fax     516-868-6213

    www.meyerowitz.com

     

     

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  • 2.  RE: Refund of overpayment

    Platinum Most Valuable Member
    Posted 03-03-2020 10:36 AM
    Hi my friend!
    It is my understanding that the government doesn't care whose name is on the account so your client should be fine. 
    Sandy

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    Sandra Johnson CPA
    JOHNSON CPA
    Bellmore NY
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  • 3.  RE: Refund of overpayment

    Silver Most Valuable Member
    Posted 03-03-2020 02:09 PM
    Ok I'll give it a shot.
    Thanks Sandy

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    Mark Meyerowitz CPA
    MEYEROWITZ & MEYEROWITZ, CPAs
    Farmingdale NY
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  • 4.  RE: Refund of overpayment

    Posted 03-04-2020 10:23 AM
    You should be able to deposit that check in another account.
    Easier to do it on the phone if it small enough.
    Nainesh

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    Nainesh Shah, CFA
    Complete Advisors
    nainesh@completeadvisors.com
    www.completeadvisors.com
    516-240-6162
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  • 5.  RE: Refund of overpayment

    Platinum Most Valuable Member
    Posted 03-04-2020 12:43 PM

     

    In the past,  we have done that without issue. I do believe the Direct deposit will come....

     

    Please follow up and let us know, that is if you decide to go that route

     

    Abby

     

    Abby Alhante,  CPA

     

    Kurcias  & Alhante, LLC  CPAs

    525 Broadhollow Road   Suite 104

    Melville NY  11747

    516.829-5890  Fax 516-829-3976

    Mobile 516-381-9301

    AbbyA@KurciasAlhanteCPAs.com

    ( E mail response preferred )

     

     

     






  • 6.  RE: Refund of overpayment

    Silver Most Valuable Member
    Posted 03-04-2020 02:58 PM
    That's is the path we will take.
    I will post a follow up when my client gets the check(hopefully)

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    Mark Meyerowitz CPA
    MEYEROWITZ & MEYEROWITZ, CPAs
    Farmingdale NY
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Discussion Disclaimer

The opinions expressed are the views of the author alone and should not be attributed to any other individual or entity and shall not constitute an accounting opinion.