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I heard the story first from one of my CPA’s, who reported that my company’s recent quarterly tax return – and sizeable check – might be a bit damp. The IRS says a truck overturned on the San Mateo bridge over the San Francisco Bay and about 30,000 quarterly estimated tax payments – including one with my signature on it – were dumped into water. The checks came from people who pay estimated income taxes in four installments a year. The IRS says that it will waive interest and penalties for people who missed the deadline on account of salt water.
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