WASHINGTON — No checks, please. Starting next year, your check won’t be any good at the IRS — if you’re making a tax payment of $100 million or more.
The IRS says it will reject all checks for more than $99,999,999 because check-processing equipment at the nation’s Federal Reserve banks can’t handle checks that big.
Checks of $100 million or more have to be processed by hand, increasing the risk of theft, fraud and errors, according to a pair of memos from the IRS and the Treasury Department.