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If you set up an IRS payment plan do you have to send them a check or can they automatically deduct it from your checking account?
Wiki User
∙ 12y ago
Individuals who owe less than $25,000 can fill out a form and have the amount they owe automatically deducted from the checking account. Individuals who owe more than $25,000 have to fill out additional credit based paper work and then they may qualify to have automatic deductions.
Wiki User
∙ 12y ago
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Can a coporation deduct a lease payment?
Yes, corporations can deduct lease payments. Property lease payments and vehicle lease payments are deductible in the year paid or accrued.
Does pay pal deduct the money from your bank account right away?
Yes
What is the difference between check card debit card and credit card?
A check card and debit card are the same thing. Basically, if you already have a checking account, you would use a debit/check card the same way you would if you wrote a check. You make sure that you have the money in your checking account, scan the card at the retailer, and they will deduct that money from your checking account. A credit card is a loan. You don't necessarily need a checking account to have a credit card. When you swipe the credit card, the credit card company is paying for your purchase out of their money. In turn, they will send you a statement or invoice at the end of each month detailing how much you spent and how much you must pay. The major difference is that a credit card can lead to debt if you aren't disciplined. If you only use a check/debit card, you will never go into debt. When you run out of money in your checking account, new transactions will be declined.
Can you use flexible spending account and claim medical expenses?
Yes but you can NOT deduct the medical expenses that are paid for from your FSA account.
Can you deduct the amount you pay your tax account?
I am not sure what you mean by this or what kind of tax account you may be referring to.On your federal income tax return, you may deduct payments of various types of state and local taxes that are imposed on you within limitations. These include real estate, state and local income taxes, and sales taxes (but not both sales taxes and income taxes). You may not deduct federal incomes taxes. You may not deduct interest or penalties.A few states let you deduct federal income taxes on your state return.
Can a bank of America credit card access my Bank of America checking account to pay a late payment?
No. It cannot be done by the bank. They can add the late payment fee & other charges to your credit card account but cannot automatically deduct amounts from your checking account - unless, you have given them standing instructions to debit monthly card payments automatically from your account.
What is a written order directing the bank to deduct money from your checking account to make a payment called?
a check
If you apply for life insurance but your employer refuses to deduct the premiums what are your options?
Pay them yourself by either being billed at home or having the monthly premiums automatically deducted from your checking or savings account.
How do you pay off a debt to apple after buying an app with no money on your iTunes account?
Simply credit your iTunes account with the value you owe for the app, it should then automatically pay for the app. If it does not automatically deduct the amount owed, email apple and ask them to manually deduct it from your account.
If your loan was approved by chapter 7 bankruptcy can the bank still deduct from your checking account?
Not enough information is disclosed about the situation in order to answer. If you have an attorney assisting you in your bankruptcy ask them.
How do you report your earnings to social security?
Your employer does that and they deduct automatically.
When you win a bidding war on eBay and an invoice is sent to your account does that mean it is taken off your credit card?
The invoice says how much money you owe for the item, but it doesn't automatically deduct money from any card or account.
Will eBay deduct from PayPal account even though you have a zero balance on there resulting a negative count?
You have to give PayPal a credit card number and a checking account number when you register with them. PayPal will charge your credit card if you have a zero balance.
Can a bank take money from checking account to pay loan?
It depends. If:you have a monthly loan repayment agreement with the bank wherein the bank automatically deducts your monthly payments from your savings account oryou have defaulted on your loan payments for more than 2 or 3 months and haven't contacted the bank reg. the sameThen, the bank can withdraw money from your account (if there is any cash available) towards your loan repayment. Otherwise the bank cannot deduct any money from your account without intimating you.
What do you do if you overpaid independent contractors?
Try to deduct the overpayment from the next payment
If you are late on your mortgage payment's can the bank take it from a certificate of deposit or savings account even if the CD or savings account is in a different bank than the mortgage?
If you have given an auto debit instruction then the bank can deduct the money from your savings account. If you default on the payment continuously, then the bank would send you a legal notice and then confiscate all your deposits with the bank to recover their amount.
Can credit card companies take money from your checking account?
It depends. If:you have a monthly credit card bill repayment agreement with the bank wherein the bank automatically deducts your monthly payments from your checking account oryou have defaulted on your card payments for more than 2 or 3 months and haven't contacted the bank reg. the sameThen, the bank can withdraw money from your account (if there is any cash available) towards your card repayment. Otherwise the bank cannot deduct any money from your account without intimating you.
