Wed, 12 Nov 2008
To cover my state and federal taxes for last year and my estimated payments for
this year, as well as my IRA contribution, I scheduled a transfer from my ING
Direct account to my regular checking account for Monday. I actually had
enough in there to cover the taxes, but not the IRA contribution, so I wrote a
check for the contribution and mailed it on Monday so I could be pretty
confident that the ING transfer would be complete before the check was
presented for settlement. Despite the fact that the government was going to
be sucking a bunch of money out of my account, I was relieved to have my taxes
done and all the payments worked out.
One small problem: I accidentally scheduled the transfer from my
checking account to ING instead of the other way around, so on Monday my
checking account was emptied resulting in the rejection of three of the tax
withdrawals as well as a scheduled credit card payment, generating four NSF
fees, and my taxes not being paid on time.
I called ING to schedule the transfer of the mistaken withdrawal as well as the
original deposit I meant to make, and my other bank to ask that they honor
payments presented in the mean time. I hope that my IRA contribution check
clears or I may have to file an ammended tax return without the contribution
and pay more taxes plus penalties. What a disaster.
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