Need to pay the IRS $100 million? Don’t write a check. As of today, the IRS says it will no longer accept checks for more than $99,999,999.99. Citing machine processing limitations, tax agency says that checks of more than 10 digits have to be processed by hand – increasing the risk for fraud, errors, and theft. So effective in 2016, taxpayers with a bill of $100 million or more will need to wire their payment or write several separate checks.

While this is likely not an IRS rule change that will impact the vast majority of American taxpayers, it does underscore the importance of keeping up with changing IRS rules and regulations. Doing so can mean the difference between compliance and non-compliance, tax savings or tax penalties, and smart strategy or missed opportunities. To make sure that your tax planning is up-to-date, seek professional advice from a legal professional with extensive tax education and experience.

Belinda France has a Post Doctorate Taxation Degree, earning her the title of ‘Master of Laws (Taxation).’ This designation signifies not just an educational accomplishment, but also a dedicated commitment to understanding the complex tax code that affects each and every taxpayer. With the expertise and up-to-date industry knowledge that France Law possesses, you can make sound tax strategy decisions that lead to long-term advantages and financial success.