Float Time Reduced for IRS Tax Payments

If you have, in the past, sent in your tax payments via paper check counting on a large float time for the check to clear your bank account please take note of the following change. The Internal Revenue Service has announced they will begin using paper check conversion for all checks sent in during the 2008 filing season. This means that as soon as your tax return and payment check are received by the IRS the money will electronically be taken from your bank account. The check will no longer travel through the banking system to be cleared.