Form 1040v - Mellon Bank Corp. contract cancelled following missing returns - Brief Article

California CPA, Nov, 2001

For the last few years, the IRS has asked taxpayers with a balance due to mail their completed tax returns to a lock box and include Form 1040V. The "V" stands for voucher. The taxpayer was requested to enclose the voucher, check and signed tax return in one envelope and send it to a P.O. box. The P.O. box directed the items to a bank that processed the payment and voucher and forwarded the tax return to the IRS.

The IRS has acknowledged that at least 40,000 returns sent to the lockbox for the Andover, MA Service Center have gone astray at Mellon Bank in Pittsburgh. The IRS canceled that contract with Mellon Bank in August.

Supposedly bank employees fell behind and stacked returns on the floor near a shredding machine. Mellon Bank terminated several employees as a result of its internal investigation. The Mellon Bank-IRS processing contract for its Los Angeles bank has not been canceled.

There is no penalty for sending a return with a check directly to the service center.

COPYRIGHT 2001 California Society of Certified Public Accountants
COPYRIGHT 2001 Gale Group
 

BNET TalkbackShare your ideas and expertise on this topic

Please add your comment:

  1. You are currently: a Guest |
  2.  

Basic HTML tags that work in comments are: bold (<b></b>), italic (<i></i>), underline (<u></u>), and hyperlink (<a href></a)

advertisement
Click Here
advertisement
  • Click Here
  • Click Here
  • Click Here
advertisement

Content provided in partnership with Thompson Gale