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I have my parent’s federal and state income tax refund check. Can I deposit it?

February 2, 2009 by  
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kwjb05 asked:


I have their signatures on the back. Will I have any problems trying to deposit it at my bank.

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Comments

6 Comments on "I have my parent’s federal and state income tax refund check. Can I deposit it?"

  1. tonalc1 on Mon, 2nd Feb 2009 11:37 pm 

    No, not if it’s endorsed. They’ll put a hold on it to verify.

  2. Harry_Cox on Fri, 6th Feb 2009 9:24 am 

    why would you steal from your parents? You’re low!

  3. Trying for Big in Boise on Sat, 7th Feb 2009 10:46 pm 

    Good Lord!

    Did you try to get to How to Become a Crook’s website and end up here instead?

    There is a great book called The Bad Seed. You may enjoy spending your winnings on it to see how others who follow your path have fared. I feel soooooooooo sorry for your parents.

  4. Baseball inquisitive on Tue, 10th Feb 2009 11:18 pm 

    Yes, they must sign it. Do you want to play with the Fed’s, don’t think so, try it and you can end up in the Federal System.

  5. mathew on Fri, 13th Feb 2009 12:43 am 

    If you have their permission to do so. you can have them write for deposit only with your account number written on the signature line. Some previous answers assume that you wanted to steal the money however there may be circumstance in which it would be appropriate to put the check in your account (like they don’t have an account and you pay their bills). On the other hand if you were stealing it you could go to jail as stated.

  6. TaxGuru on Fri, 13th Feb 2009 7:22 am 

    If you have power of attorney for them, it might be better to deposit the check to their account and to then write checks on their account for the things that they need. If they want to make a gift to you of their refund, then I would also recommend the same procedure. There are restrictions on paid preparers negotiating refund checks, but that should not restrict you from acting on their behalf if you are authorized to do so.

    The bank should not allow you to deposit the check to your own account unless it is endorsed to you, but it might go through since they don’t generally examine each check individually.

    You should consult a local qualified advisor to ensure that what you plan to do is correct.

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