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Estimated Tax Payments Fall Into The San Francisco Bay

A highway accident caused some 30,000 quarterly estimated tax payments to the IRS to be dumped into the San Francisco Bay. A truck carrying about 45,000 forms and tax payments overturned on the San Mateo Bridge (September 11). The IRS said that the checks, due September 15, were being transported from a post office to an IRS lockbox.

IRS spokesperson John Lipold said the IRS will issue a formal statement once its investigation is complete. The agency will waive all interest and penalties for taxpayers who discover that their payments failed to be credited. Lipold noted that "we're going to work with people on good faith."

Payments from the following states were affected: Alaska, Arizona, California, Hawaii, Idaho, Montana, Nevada, Ohio, Oregon, Virginia, Utah, Washington and Wyoming.

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Any views expressed herein are based on our best information. The content of this web site was written as general information without specific individual information and thus may not apply in all situations. This material was not written, and cannot be used by the taxpayer for the purpose of avoiding penalties that may be imposed on the taxpayer.

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Janelle Ogg, EA
Richard Ogg, EA