Hi Folks,

The situation:
* I fully closed my S-Corp in 2008 (I was sole stock holder)
* The IRS sent me a tax refund check after that I couldn't cash
* I wrote multiple times explaining the situation, but they just kept resending the check in the old business name.
* My big error: I let a friend cash the check since his new business has the same name (I've been trying to help him stay afloat.)
* In the interim, $68 of interest accrued.
* I just received a "Statement for recipients of interest income" for $68, but with the now defunct business' info.

What do I do? I don't want to resurrect the business in any way, but I want to make sure all of the taxes are settled properly. Is $68 below a filing limit? I'd really like for all of this to just go away, but I realize I made a mistake letting the check be cashed...

Thanks.

“What do I do? I don't want to resurrect the business in any way, but I want to make sure all of the taxes are settled properly. Is $68 below a filing limit? I'd really like for all of this to just go away, but I realize I made a mistake letting the check be cashed...”-----> A man who mistakenly had another taxpayer's refund of $110,000 deposited in his bank account by the Internal Revenue Service could be facing jail time for not reporting the error. I guess some steps can be taken to resolve the matter. It's usually not a problem to cash it.The main IRS toll-free number is (800) 829-1040 or (800) 829-4059 (TDD) for the hearing impaired. So, you should contact IRS at 1-800-829-1040 to ask them how to correct the mistake. Maybe they will ask you to send back the check so they can issue to the new business. At the same time you need to ask them to correct your business name related issue on their computers. You also can call or visit your local Taxpayer Assistance Center. The IRS website has an interactive locator page to help you find the nearest one.