When a bank delays forwarding a taxpayer's “timely received with proper instructions” Federal Tax Deposit (FTD) to the U.S. Treasury, the taxpayer may be relieved of the portion of the FTD penalty pertaining to that payment, if the bank accepts responsibility for the delay. For each delayed FTD payment or issue, FAX a separate Form 13287 and Instructions to the responsible bank for completion and a bank official's signature. The signed form then becomes the authorization for the Federal Reserve Board (FRB) to charge the bank for the loss of funds to the U.S. Treasury. |