Problem business client - Are NSF charges considered 'bank charges?' [Archive]

MeaningOfLife

Oct 16, 2011, 11:06 AM

If there is an IRS audit and some bank charges are actually NSF fees. Do you think the auditor would have problems with this?

AtlantaTaxExpert

Oct 27, 2011, 08:41 AM

Yes, they will. NSF fees are punitive fees that are not normal bank fees and thus NOT deductuble.