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Illinois lottery winners' checks bounced

Topic closed. 21 replies. Last post 5 years ago by jump6702.

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United States
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July 24, 2010
4735 Posts
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Posted: January 8, 2012, 12:16 pm - IP Logged

Amen.  And even then, you have to be careful.   The check can clear, and then be pulled back a month later, two months, three, after an investigation.  As for the state paying for bounced check fees, are they are also going to make sure that the chex systems reports of all affected parties are wiped clean?  You never know.   I'm not sure how that works, but I wouldn't want someone to get on a company's 'List' because the state bounced a check, and it caused a cascading effect.

Also, I can't believe the cheek of that man trying to play word games: returned not bounced.  Please!

Yea, GOOD LUCK getting anything cleared in Chex Systems!!!!

They are just as bad as the credit bureau’s.  Both ONLY want to post NEGATIVE items, and will do almost NOTHING to clear/fix incorrect items.

    dpoly1's avatar - driver
    PA
    United States
    Member #66141
    October 16, 2008
    1672 Posts
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    Posted: January 8, 2012, 7:24 pm - IP Logged

    Yikes, think they need to train their employees better.

    You can't be mean to relatives & political hacks.

      butch2030's avatar - DiscoBallGlowing
      The KEY ingredient is Combos & Patterns
      Elgin, IL
      United States
      Member #68867
      January 1, 2009
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      Posted: January 8, 2012, 10:00 pm - IP Logged

      Now how do you claim the taxes??????????  FY 2011 or FY2012????????????  The checks were cut in 2011 but you actually didn't get the funds until 2012 because they forgot to validate the checks until 2012.

      I guess you will have to talk to your tax advisor....................


        Bahamas
        Member #114685
        August 5, 2011
        422 Posts
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        Posted: January 9, 2012, 5:21 pm - IP Logged

        ... in case there was any doubt remaining about cash vs annuity ...

        ALL CLEARED UP SIR! lol

        "Freedom of Speech? Keep reading and you will discover that freedom comes at a price!"

          HaveABall's avatar - rocket

          United States
          Member #72448
          March 18, 2009
          1227 Posts
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          Posted: January 9, 2012, 6:23 pm - IP Logged

          Just another 1.5 hours of work for each of the winners to spend obtaining, copying, creating mailing envelope, and mailing their own copy of 'returned check' fees proof by their financial institution to the lottery headquarters for reimbursement. 

          It's a BIG hassle and time waster for both the winner and the lottery headquarters office personnel. Mail For You

          Having several millions of dollars in my financial accounts means receiving several valuable services each day!

          Disney

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            NY
            United States
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            October 16, 2005
            3474 Posts
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            Posted: January 11, 2012, 1:38 am - IP Logged

            Now how do you claim the taxes??????????  FY 2011 or FY2012????????????  The checks were cut in 2011 but you actually didn't get the funds until 2012 because they forgot to validate the checks until 2012.

            I guess you will have to talk to your tax advisor....................

            Since they were actually paid in 2012 they can claim it as 2012 income. People have trouble collecting money that is reported on W-2's and 1099's all the time, so it will hardly be the first time the IRS has seen it happen. Of course it's probably simpler to just go ahead and pay the taxes on their 2011 returns and be done with it. The average prize is less than $2000, and most winners will probably owe less than $500. If they just leave that in their checking account for a year they'll probably earn about $1 in interest.

              jump6702's avatar - Lottery-067.jpg
              gallatin tn
              United States
              Member #106502
              February 20, 2011
              3749 Posts
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              Posted: January 16, 2012, 11:19 pm - IP Logged

              now that was a good move. pay for the check bank fee.